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LAS VEGAS—Caesars Entertainment Corp., which is attempting to restructure the casino industry’s biggest debt load, disclosed in an SEC filing Wednesday that it’s considering an OpCo/PropCo split that would turn its largest operating division into a REIT. The casino operator has $22.8 billion in long-term debt, has lost money each year since 2009 and last week posted a $149.2-million quarterly loss.

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