The Caesars Palace Coup

The Caesars Palace Coup
Author: Sujeet Indap
Publisher: Diversion Books
Total Pages: 282
Release: 2021-03-16
Genre: Business & Economics
ISBN: 1635766761

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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.

The Caesars Palace Coup

The Caesars Palace Coup
Author: Sujeet Indap
Publisher: Diversion Books
Total Pages: 352
Release: 2022-08-02
Genre: Business & Economics
ISBN: 9781635767742

Download The Caesars Palace Coup Book in PDF, Epub and Kindle

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: relentless financial engineers Marc Rowan, David Sambur, and David Bonderman with their teams at Apollo Global Management and TPG Capital. On the other: superstar distressed debt investors Dave Miller and Ryan Mollett with their cohorts at 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.

Distressed Debt Analysis

Distressed Debt Analysis
Author: Stephen G. Moyer
Publisher: J. Ross Publishing
Total Pages: 518
Release: 2004-11-15
Genre: Business & Economics
ISBN: 1932159185

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Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.

Casino Conquest

Casino Conquest
Author: Frank Scoblete
Publisher: Triumph Books
Total Pages: 315
Release: 2012-09-26
Genre: Games & Activities
ISBN: 1623680050

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Penned by a reputable authority on casinos, this guide provides the tools of the trade in order to perform a successful climb to the top of the gaming mountain. A step-by-step instructional approach is presented, going beyond the standard handbooks on blackjack, craps, and slots to include tips and tricks on baccarat, roulette, and more. A must-have for both casual and professional gamblers throughout the nation, this invaluable companion is guaranteed to provide the winning edge to beat the house.

Winner Takes All

Winner Takes All
Author: Christina Binkley
Publisher: Hachette UK
Total Pages: 336
Release: 2018-11-06
Genre: Biography & Autobiography
ISBN: 0316487902

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From Pulitzer Prize-winning journalist and culture critic Christina Binkley comes an updated edition of her New York Times bestselling account of sex, drugs, and the rise of Las Vegas. With a new prologue on the rise and fall of Steve Wynn. The Strip. Home to some of the world's grandest, flashiest, and most lucrative casino resorts, Las Vegas, with its multitude of attractions, draws millions of tourists from around the world every year. But Sin City hasn't always been booming: modern Vegas exists largely thanks to the extraordinary vision, and remarkable hubris, of three competing business moguls: Kirk Kerkorian, Dr. Gary Loveman, and Steve Wynn. And in the wake of #MeToo revelations, not all empires survive. Having had personal access to all three tycoons, Binkley explains how their audacious efforts to reach the top-and to top one another-shaped the city as it stands. She takes us inside their grandest schemes, their riskiest deals, and the personalities that drove them to their greatest successes, and their most painful defeats. In this updated edition, she reveals the inside story of how Steve Wynn, the winner who took all, ultimately lost everything-twice. Sharp, insightful, and revealing, Winner Takes All is the gripping story of how billions of dollars and the unparalleled drive for power turned dreams into larger-than-life reality. "It's a great drama on the greatest stage. . . Wynn, Kerkorian, and Loveman represent three opposing business personalities, three styles of achieving success. On the Vegas Strip, they're pitted against one another like gladiators, and we've got front-row seats. Kapow!" - bestselling author Po Bronson

Cable Cowboy

Cable Cowboy
Author: Mark Robichaux
Publisher: John Wiley & Sons
Total Pages: 338
Release: 2002-10-31
Genre: Business & Economics
ISBN: 0471434329

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An inside look at a cable titan and his industry John Malone, hailed as one of the great unsung heroes of our age by some and reviled by others as a ruthless robber baron, is revealed as a bit of both in Cable Cowboy. For more than twenty-five years, Malone has dominated the cable television industry, shaping the world of entertainment and communications, first with his cable company TCI and later with Liberty Media. Written with Malone's unprecedented cooperation, the engaging narrative brings this controversial capitalist and businessman to life. Cable Cowboy is at once a penetrating portrait of Malone's complex persona, and a captivating history of the cable TV industry. Told in a lively style with exclusive details, the book shows how an unassuming copper strand started as a backwoods antenna service and became the digital nervous system of the U.S., an evolution that gave U.S. consumers the fastest route to the Internet. Cable Cowboy reveals the forces that propelled this pioneer to such great heights, and captures the immovable conviction and quicksilver mind that have defined John Malone throughout his career.

When the Wolves Bite

When the Wolves Bite
Author: Scott Wapner
Publisher: PublicAffairs
Total Pages: 0
Release: 2018-04-24
Genre: Business & Economics
ISBN: 9781610398275

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The inside story of the clash of two of Wall Street's biggest, richest, toughest, most aggressive players--Carl Icahn and Bill Ackman--and Herbalife, the company caught in the middle With their billions of dollars and their business savvy, activist investors Carl Icahn and Bill Ackman have the ability to move markets with the flick of a wrist. But what happens when they run into the one thing in business they can't control: each other? This fast-paced book tells the story of the clash of these two titans over Herbalife, a nutritional supplement company whose business model Ackman questioned. Icahn decided to vouch for them, and the dispute became a years-long feud, complete with secret backroom deals, public accusations, billions of dollars in stock trades, and one dramatic insult war on live television. Wapner, who hosted that memorable TV show, has gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take. When the Wolves Bite is both a rollicking, entertaining read--a great business story of money and power and pride.

Running Scared

Running Scared
Author: John L. Smith
Publisher: Da Capo Press
Total Pages: 376
Release: 2001-01
Genre: Biography & Autobiography
ISBN: 9781568581903

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Steve Wynn is the former owner of the Bellagio — Las Vegas's latest monument to conspicuous consumption whose hotel and casino contain over $300 million in fine art and $1.5 billion in Wall Street money. He's a mogul whose empire at one point included the Mirage, the Golden Nugget, and Treasure Island. But how did he gain and wield his tremendous power in Nevada? And why did a confidential Scotland Yard report prevent him from opening a casino in London? When this biography, written by a local reporter, was first released in 1995, Steve Wynn brought suit against its original publisher and forced him into bankruptcy. Now available in paperback, the inside story of the biggest phenomenon to roil Las Vegas since Hoover Dam gives readers an intimate glimpse at the real business that's conducted beyond the gaming tables.

Dynasty

Dynasty
Author: Tom Holland
Publisher: Little, Brown Book Group
Total Pages: 331
Release: 2015-09-03
Genre: History
ISBN: 0748127895

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'A masterly account of this first wicked century of the Roman Empire' Sunday Times 'Holland does not just tell the story of the reign of the Julio-Claudian family. He knits the history of ancient Rome into his narrative - its founding myths, the fall of the republic, the religious superstitions - with a skill so dextrous you don't notice the stitching. Dynasty is both a formidable effort to compile what we can know about the ancient world and a sensational story' Observer 'A witty and skilful storyteller... He recounts with pleasure his racy tales of psychopathic cruelty, incest, paedophilia, matricide, fratricide, assassination and depravity' William Dalrymple, New Statesman 'A wonderful, surging narrative... [for] anyone interested in history, politics or human nature - and it has never been better told' Mail on Sunday THE TOP TEN SUNDAY TIMES BESTSELLER