March 28 (Bloomberg) — Caesars Entertainment Corp. said it’s offering 7 million shares of its common stock, a sale worth about $147.6 million at current prices.

The Las Vegas-based company, which has been restructuring its debt, granted its banker the option to sell another 1.05 million shares, according to a statement.

Caesars said its controlling shareholders, TPG Capital and Apollo Global Management LLC, have agreed not to sell any of their holdings for about 60 days after the offering. Citigroup Inc. is acting as the sole underwriter.

Shares in the largest owner of casinos in the U.S. fell 6 percent to $19.82 in extended trading yesterday after the announcement. The stock retreated 4.3 percent to $21.08 at the close in New York. It’s risen 31 percent in the past year.

Caesars has struggled to repair its balance sheet after a $30.7 billion leveraged buyout in 2008. The company has sold stock to the public, divested assets, bought back debt and restructured loans.

The company said this week that an affiliate, Caesars Growth Partners, is seeking to raise $2 billion in debt to finance a deal announced earlier this month to purchase four casinos from Caesars Entertainment Operating Co., the company’s most-heavily indebted unit. Caesars also said it received a letter from a law firm representing some debt holders challenging that and other assets transfers.

Caesars said March 26 that it would close its Harrah’s Tunica casino in Mississippi in the face of increased regional competition and declining revenue.

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