Caesars Palace Bankruptcy: Caesars Owes Robert De Niro $460K

By Kathleen Villaruben | 4 years ago
Caesars Palace Bankruptcy: Caesars Owes Robert De Niro $460K

Robert De Niro’s luxurious Nobu Hotel and Restaurant has been “stiffed” by Caesars Palace. De Niro, co-founder of Nobu Hospitality, is a creditor in the hotel’s bankruptcy case. Read on for further details.

According to TMZ, Caesars is indebted to Nobu at almost $460,000.

Nobu Hotel and Restaurant had a star-studded grand opening on April 28, 2013 at Caesars Palace Las Vegas. David Rockwell was the restaurant’s designer. De Niro is one of the investors, including film producer Meir Tepper and chef Nobu Matsuhisa.

Other guests in the Nobu grand opening were media expert Randi Zuckerberg, famous illusionist David Blaine, choreographer Robin Antin, reality star Holly Madison, bombshell Coco Austin and musician Taylor Hicks.

De Niro was ecstatic and excited about the launch.

“This has been a dream of ours,” De Niro said.

The grand opening started with a traditional sake ritual. Caesars president Gary Selesner made the welcoming remarks and introduced Tepper, Matsuhisa and De Niro for breaking the sake cask through wooden mallets. It was a traditional christening ceremony for the 26th opening of Nobu. Matsuhisa referred to the success of their previous restaurants as proof that the sake ceremony gives luck.

In 2008, Apollo Global Management and TPG Capital Management successfully bought the company, which owns most of Caesars Palace Las Vegas, for $30 billion. They initially paid $6.1 billion, and the rest would be from high interest rates.

The downturn was sudden, and gamblers gradually stopped spending. The creditors of Apollo and TPG were outraged. Other creditors were also having the same predicament and forced Caesars into bankruptcy.

According to Washington Post, the bankruptcy issue included Caesars moving its in-demand online gaming business and two very profitable Las Vegas establishments outside Caesars Entertainment Operating Corp., the major unit of the company and the one in bankruptcy. Creditors used this as basis for fraud claims.

TMZ wrote that world-renowned chef Gordon Ramsay, producer and host of “Masterchef” and “Hell’s Kitchen,” is also a creditor of the hotel for $307,000. He owns the restaurant Gordon Ramsay Pub & Grill inside the hotel.

Despite the bankruptcy case, superstar Mariah Carey recently confirmed a deal with Caesars for residency.

There you have it for the update on Robert De Niro as creditor in Caesars Palace bankruptcy case. For more celebrity updates, follow Movie News Guide (MNG).

Photo Source: Wikimedia Commons/Petr Novák, Wikipedia 




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