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
Buy Now for $23.67
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Narrated by:
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Chris Kipiniak
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Written by:
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Max Frumes
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Sujeet Indap
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.
©2021 Sujeet Indap and Max Frumes (P)2021 TantorYou may also enjoy...
Adult billionaires bully each other like eighth grade girls. These men are petty AF. Besides the amazing case and financial discoveries, this book spills the tea on how the over educated men try to play “dumb” while holding prestigious degrees.
“I never made partner at Goldman Sachs, so now that I am a billionaire I am going to be a bully. The man who said no, I bought his beach home and bulldozed it!” - one of the interchangeable finance dicks
Wow. I hope you did dip your balls in his cereal. Meanwhile long term employees go broke and die with nothing.
Read it for the childishness!
I laughed until I cried, this is gossip girl for finance bros
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