Why Caesars Entertainment Corp's Shares Popped 15% in September

Shares of gaming giant Caesars Entertainment Corp (NASDAQ: CZR) jumped 15.1% in September, according to data provided by S&P Global Market Intelligence, as the company moved closer to finalizing its reorganization. Once completed, the reorganization will reduce debt and should restore some operational stability to the company.

Caesars has received approval from all gaming regulators to reorganize the company into an operating company and a REIT, a process it expects to complete this week. Caesars has also announced the pricing of $5.7 billion in senior secured debt and $1.7 billion in senior notes due 2025, which was a key part of the process.

Image source: Getty Images.

Source: Fool.com