Reports: Caesars Entertainment Corp. Bankruptcy Venue Uncertain

Caesars Entertainment Corp.'s

operating unit expects to file for voluntary Chapter 11 Bankruptcy protection Thursday in Chicago, but a group of creditors plan to challenge the venue, according to reports. Caesars shares fell nearly 3 percent recently, changing hands at $12.27. Bond holders who filed an involuntary petition in Wilmington, Del., earlier this week, asked the court Wednesday to order negotiations with Caesars about where the case will proceed, according to The Wall Street Journal. A legal analyst told Bloomberg that a Caesars' voluntary filing would be automatically halted until the judge overseeing the first case in Delaware decided the proper venue. In a separate court filing in Delaware, Caesars on Wednesday called the bond holders' request ""an effort to wreak havoc" on proceedings that will "benefit all creditors," according to Bloomberg. Las Vegas-based Caesars has struggled with a debt hangover from its $29 billion leveraged buyout in 2008 by TPG Capital and Apollo Global Management. At the time, Caesars was called Harrah's Entertainment Corp.