Books+ Search Results

The Caesars Palace coup : how a billionaire brawl over the famous casino exposed the power and greed of Wall Street

Title
The Caesars Palace coup : how a billionaire brawl over the famous casino exposed the power and greed of Wall Street / Max Frumes and Sujeet Indap.
ISBN
9781635766776
163576677X
Edition
First Diversion Books edition.
Publication
New York : Diversion Books, 2021.
Copyright Notice Date
©2021.
Physical Description
vi, 342 pages : illustrations ; 24 cm.
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. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. 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' 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. In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens--vultures, as they are condemned--in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance." -- Provided by publisher.
Format
Books
Language
English
Added to Catalog
September 07, 2021
Bibliography
Includes bibliographical references and index.
Also listed under
Citation

Available from:

Loading holdings.
Unable to load. Retry?
Loading holdings...
Unable to load. Retry?