Caesars Debt Talks Ratcheting Up as New Bankruptcy Terms Emerge

After six months of stalled talks on how to restructure $19.9 billion of debt held by creditors of Caesars Entertainment Corp.’s biggest unit, the casino company is trying a new strategy.

Caesars reached an agreement Monday with some members of a bondholder class that up to this point have been its fiercest opponents, according to a statement Monday from the casino company. The group includes Paulson & Co., Canyon Partners and Soros Fund Management and owns about 30 percent of junior notes that have faced some of the worst losses from the bankruptcy of the main Caesars operating division in January, a person with knowledge of the matter said.