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Caesars Unit Files For Chapter 11 Bankruptcy

A man takes pictures of Caesars Palace hotel and casino on Jan. 12, 2015 in Las Vegas. A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday Jan. 15, 2015 that it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion of debt. (John Locher/AP)
A man takes pictures of Caesars Palace hotel and casino on Jan. 12, 2015 in Las Vegas. A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday Jan. 15, 2015 that it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion of debt. (John Locher/AP)

One of the world’s largest gambling giants, Caesar’s Entertainment, put its largest unit under Chapter 11 bankruptcy protection today. The move follows months of negotiations with creditors and years of declining performance during the recession.

Mike Regan of Bloomberg News joins Here & Now’s Jeremy Hobson to look at what’s happening at Caesars.

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