Caesars dissolves deals with Kansas City Chiefs and company that feuded with Britney Spears

MarketsAssociated Press

An arm of casino giant Caesars Entertainment Corp. can tear up contracts it had with the Kansas City Chiefs, a Springhill Suites in Louisiana and audio company Monster Inc. that says it feuded with Planet Hollywood performer Britney Spears.

Judge Benjamin Goldgar in Chicago ruled last week that Caesars Entertainment Operating Co. could void the agreements as part of its bankruptcy case but the company would have to try again if it wants to void agreements it has with the New York Mets, The Forum in Los Angeles and a motor coach company because it didn't give them enough notice last time.

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The suite for Chiefs games costs $12,000 a month. The stadium is keeping Caesars' $12,580 security deposit but letting it use the suite one more time on Aug. 1 for a Kenny Chesney and Jason Aldean concert, according to the judge's order.

The room reservation agreement it had with a Springhill Suites near its Louisiana casino had cost it $310,000 a month.

Caesars Entertainment Operating Co. filed for bankruptcy protection in January in an effort to shed some $10 billion in debt.

Its sponsorship agreement with the Mets costs it $203,000 a month and advertising at The Forum costs $60,000 a month. An agreement with a motor coach company costs $90,000 a month to arrange group trips to its Horseshoe Bossier City properties in Louisiana.

Caesars also got assurance from the court that an agreement it had with audio company Monster Inc. is over and the casino company can still seek a legal claim against it. Court records indicate that Monster defaulted on the agreement after tensions arose between it and performer Britney Spears over where the company could sell its products at her show at Caesars' Planet Hollywood property.