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

By Frumes, Max, author.
Indap, Sujeet, author.

Published 2021 by Diversion Books, [New York]

ISBN 9781635766776

Bib Id 2511347

Copyright 2021

Edition First Diversion Books edition.

Description vi, 342 pages : illustrations ; 24 cm

More Details

Leader
05052cam a2200577 i 4500
ISBN
9781635766776 (hardcover) $29.00
163576677X
Call #
364.168 F
Title
The Caesars Palace coup : how a billionaire brawl over the famous casino exposed the power and greed of Wall Street
Varying Form of Title
How a billionaire brawl over the famous casino exposed the power and greed of Wall Street
Edition
First Diversion Books edition.
Publication Information
2021 by Diversion Books, [New York] :
Copyright Date
©2021
Description
vi, 342 pages : illustrations ; 24 cm
Bibliography
Includes bibliographical references and index.
Contents
A numbers game -- Kings of Leon -- Waking up in Vegas -- Put your money where your mouth is -- A bridge just far enough -- Project runway -- Not that innocent -- CERP's up -- Four properties of the apocalypse -- Shot of B-7 -- Pixie dust -- Shell game -- Chasing waterfalls -- Guitar hero -- First derivative -- Rubicon crossed -- Big game hunter -- Involuntary reaction -- Pride goeth before the fall -- Split screen -- Storm Juno is gone -- A thorough examination -- Next man up -- Give peace a chance -- The meter is running -- Don't stop "till" you get enough -- Mr. Rowan goes to Washington -- Roll of the dice -- The ides of March -- Old friends -- The hole and the gap -- End game -- "Pony up the paper" -- Know when to fold'em -- Veni, vidi, VICI -- The hangover.
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.

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