by Michael J. Shapiro | July 17, 2013
Caesars Entertainment has received approval from Nevada state gaming regulators to spin off the Planet Hollywood Resort and its interactive gaming business into a separate business entity, according to the Las Vegas Review-Journal. A new casino slated for the Baltimore area also would be part of the new company, announced in April, known as Caesars Growth Partners. Caesars plans to sell stock in CGP, which could raise an estimated $1.18 billion.