Caesars casino wants to sue insurers for $ 2 billion

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Casino operator Caesars Entertainment filed a complaint against insurers with the US Securities and Exchange Commission and notified the regulator that it was filing a lawsuit against insurance companies. Lawyers for Caesars allege that insurance companies are violating the contract and the Nevada Unfair Claims Act. In a lawsuit filed by the operator in Clark County District Court, Caesars seeks damages from the effects of the coronavirus pandemic. As the lawsuit clarifies, most of the company’s insurance policies do not exclude loss or damage caused by the virus or pandemic as force majeure. But the insurance companies refused to voluntarily compensate for the company’s losses, which, according to the casino operator, exceed $2 billion. The lawsuit also notes that Caesars paid insurance companies more than $25 million in premiums. At the same time, in his complaint to the regulator, the operator does not rule out a “peaceful settlement” of the conflict situation. As previously reported, the South Korean authorities issued an ultimatum to Caesars Entertainment for delaying the construction of the Midan City casino.

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