Bibliograph

The Caesars Palace Coup, How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street, Sujeet Indap

Type

Label

The Caesars Palace Coup, How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street, Sujeet Indap

Language

eng

resource.accompanyingMatter

technical information on music

Form of composition

not applicable

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Literary text for sound recordings

other

Main title

The Caesars Palace Coup

Responsibility statement

Sujeet Indap

Sub title

How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street

Summary

It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG-in the midst of the post-Great Recession slump-had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars's hedge fund lenders and bondholders had scooped up the company's paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs-if they could just stop their own infighting. These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society-and even each other

Target audience

adult

Transposition and arrangement

not applicable

Contributor

Creator