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Title details for The Caesars Palace Coup by Max Frumes - Available

The Caesars Palace Coup

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

by Max Frumes
Sujeet Indap
Audiobook
1 of 2 copies available
Borrow Listen to a sample Listen to a sample
1 of 2 copies available
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.

Formats

  • OverDrive Listen audiobook

subjects

Languages

  • English

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