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

Written by:
Sujeet Indap , Max Frumes
Narrated by:
Chris Kipiniak

Unabridged Audiobook

Ratings
Book
3
Narrator
2
Release Date
March 2021
Duration
12 hours 22 minutes
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.
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Anonymous

One could argue that you need to be a finance and bk geek but the book was excellent. Lots of sidebar stories to chase with some of the characters and strategies. It is stunning how ethically challenged law firms continue to survive and thrive. Buyer beware of opinion letters and their veracity.

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