The Caesars Palace Coup: How A Billionaire Brawl Over the Famous Casino Exposed

Description: FREE SHIPPING UK WIDE The Caesars Palace Coup by Sujeet Indap, Max Frumes 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 worlds 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 companys 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. FORMAT Paperback LANGUAGE English CONDITION Brand New Author Biography Sujeet Indap is the U.S. editor of the Lex Column at the Financial Times, where he contributes stories across the paper. He has written extensively on the intersection of corporate finance and corporate law. Indap was previously an investment banker before he joined the Financial Times in 2013. He is a graduate of Pomona College and the Wharton School at the University of Pennsylvania. Indap lives in Manhattan, NY, with his wife. Max Frumes leads a news team at Fitch Solutions covering corporate debt and restructuring. He previously was the founding editor of a leading publication covering corporate bankruptcy, and before that reported for S&Ps Leveraged Commentary & Data and The Deal. Frumes received his undergraduate degree from the University of California, Berkeley, and an MSJ from Northwesterns Medill School of Journalism. He lives in Brooklyn with his wife and daughter. Review Praise for The Caesars Palace Coup"The strength of [The Caesars Palace Coup] is its vivid, behind-the-scenes footage of theinsiders who now dominate the largest corporate bankruptcy cases,vignettes that will enliven many a law or business-school class in thenext decade."—Wall Street Journal"The Caesars Palace Coup recounts in exquisite detail theextraordinary lengths that Marc Rowan and David Sambur, his Apollopartner, went to stave off the inevitable bankruptcy filing of Caesarsin 2015, and the extraordinary lengths they went to during the two-yearbankruptcy process to try to salvage their investment."—Vanity Fair"An investigative deep-dive into an old-fashioned casino heist, whichincludes a $31 billion leveraged buyout and a string of financialengineering transactions by Apollo Global Management and TPG Capital—allin the midst of the post–Great Recession slump, pitting private equityfirms and distressed-debt hedge funds against each other in an ultimatepoker match."—Fortune"A casino caper and legal thriller rolled into one…. An eccentricIllinois judge, whose final ruling ultimately stunned bankruptcyaficionados, and the rantings from the Masters of the Universe make thebook entertaining, maybe essential, reading across Wall Street…. The Caesars Palace Coup helps make clear what such Wall Street clashes are really about: men with big egos swinging their lacrosse sticks." —Reuters Breakingviews"Lawyers and bankers duke it out in this thorough if dry history of thedownfall of the Caesars Entertainment empire…. a welcome respite fromstodgier case studies."—Publishers Weekly"The Caesars Palace Coup is a superb inside account of whatmodern high finance is actually like—the strategies, the personalities,the relationships, the stress, and the shouting. Fascinating,suspenseful, and comprehensive, it is the Barbarians at the Gate of distressed debt."—Matt Levine, Money Stuff columnist, Bloomberg Opinion"No story better captures early 21st century Wall Street like the bankruptcy of Caesars Entertainment. The Caesars Palace Coupis a well-researched, engaging modern-day corporate thriller, filledwith epic courtroom and boardroom battles and the kinds of colorfulcharacters that only exist on the buy-side. This is the fascinatinginside story of a clash of the titans—the whos who of distressed hedgefunds battling each other and private equity giants Apollo and TPG fortheir piece of the Las Vegas casino conglomerate. . . . [A] must readfor anyone who loves the deals and the drama that so often characterizethe ins and outs of Wall Street and corporate restructuring."—Kristin Mugford, Harvard Business School"In The Caesars Palace Coup, two of Wall Streets most plugged-injournalists take us deep inside corporate raiding, 21st century style.Exploiting distressed debt instead of undervalued stock, buccaneer hedgefunds and other vulture investors pay seventy, sixty, sometimes lessthan fifty cents on the dollar to scoop up controlling stakes introubled companies. This breathtaking narrative culminates in bitterfinancial and courtroom warfare as Apollo Global Management, its allies,and its high-powered lawyers and lobbyists maneuver relentlesslyagainst equally savvy investors to freeze them out of the resulting risein profits and force them to accept a cramdown settlement of theirstakes in the company."—Paul Steiger, former Wall Street Journal managing editor and founding editor of ProPublica"The distressed debt markets are the most rough-and-tumble corner ofWall Street, and Indap and Frumes have written the best book yet on themachinations, power moves, and personalities of the investors who makefortunes rolling the distressed debt dice."—Jared A. Ellias, Bion M. Gregory Chair in Business Law, the University of California, Hastings"There is so much to like in this book. Its primary strength is its Law& Order backstory, peeling back the onion of every majorplayer...Four years of painstaking personal interviews have paid offhandsomely in this fascinating account of the inner workings of bigmoney and big law reorganization practice."—Jason Kilborn, Credit Slips Promotional • e-ARC distribution to trade and consumer media, traditional and online. • Targeted outreach to financial/economic industry organizations, websites, podcasts, and publications. • Social media marketing on Facebook, Twitter, and Goodreads giveaways. • PR Campaign with print, radio, and digital interview targets, including NPR and national TV. Long Description 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 worlds 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 companys 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. Review Quote Praise for The Caesars Palace Coup " The Caesars Palace Coup recounts in exquisite detail the extraordinary lengths that Marc Rowan and David Sambur, his Apollo partner, went to stave off the inevitable bankruptcy filing of Caesars in 2015, and the extraordinary lengths they went to during the two-year bankruptcy process to try to salvage their investment." -- Vanity Fair "An investigative deep-dive into an old-fashioned casino heist, which includes a $31 billion leveraged buyout and a string of financial engineering transactions by Apollo Global Management and TPG Capital--all in the midst of the post-Great Recession slump, pitting private equity firms and distressed-debt hedge funds against each other in an ultimate poker match." -- Fortune "A casino caper and legal thriller rolled into one.... An eccentric Illinois judge, whose final ruling ultimately stunned bankruptcy aficionados, and the rantings from the Masters of the Universe make the book entertaining, maybe essential, reading across Wall Street.... The Caesars Palace Coup helps make clear what such Wall Street clashes are really about: men with big egos swinging their lacrosse sticks." -- Reuters Breakingviews "Lawyers and bankers duke it out in this thorough if dry history of the downfall of the Caesars Entertainment empire.... a welcome respite from stodgier case studies." -- Publishers Weekly " The Caesars Palace Coup is a superb inside account of what modern high finance is actually like--the strategies, the personalities, the relationships, the stress, and the shouting. Fascinating, suspenseful, and comprehensive, it is the Barbarians at the Gate of distressed debt." --Matt Levine, Money Stuff columnist, Bloomberg Opinion "No story better captures early 21st century Wall Street like the bankruptcy of Caesars Entertainment. The Caesars Palace Coup is a well-researched, engaging modern-day corporate thriller, filled with epic courtroom and boardroom battles and the kinds of colorful characters that only exist on the buy-side. This is the fascinating inside story of a clash of the titans--the whos who of distressed hedge funds battling each other and private equity giants Apollo and TPG for their piece of the Las Vegas casino conglomerate. . . . [A] must read for anyone who loves the deals and the drama that so often characterize the ins and outs of Wall Street and corporate restructuring." --Kristin Mugford, Harvard Business School "In The Caesars Palace Coup , two of Wall Streets most plugged-in journalists take us deep inside corporate raiding, 21st century style. Exploiting distressed debt instead of undervalued stock, buccaneer hedge funds and other vulture investors pay seventy, sixty, sometimes less than fifty cents on the dollar to scoop up controlling stakes in troubled companies. This breathtaking narrative culminates in bitter financial and courtroom warfare as Apollo Global Management, its allies, and its high-powered lawyers and lobbyists maneuver relentlessly against equally savvy investors to freeze them out of the resulting rise in profits and force them to accept a cramdown settlement of their stakes in the company." --Paul Steiger, former Wall Street Journal managing editor and founding editor of ProPublica "The distressed debt markets are the most rough-and-tumble corner of Wall Street, and Indap and Frumes have written the best book yet on the machinations, power moves, and personalities of the investors who make fortunes rolling the distressed debt dice." --Jared A. Ellias, Bion M. Gregory Chair in Business Law, the University of California, Hastings "There is so much to like in this book. Its primary strength is its Law & Order backstory, peeling back the onion of every major player...Four years of painstaking personal interviews have paid off handsomely in this fascinating account of the inner workings of big money and big law reorganization practice." --Jason Kilborn, Credit Slips Description for Sales People * Terrific Hardcover Sales and Publicity We shipped nearly 10,000 copies and had BookScan sales of well over 5,000 copies in the first 4 months; major publicity in , Fortune and more * Enormous Evergreen Audience: Readership of this high-stakes story will range from finance professionals working in hedge funds and private equity, and as portfolio managers, consultants, CEOs; to law firms and professors, business and economics students; to true crime devotees and fans of The Big Short , Too Big to Fail , and even Bringing Down the House . * Buzzworthy, Perennial Subject: Apollo Global Management cofounder Leon Blacks ties to Jeffrey Epstein made headline news after the hardcover released; 2018 was the "year of the scammer," and more public criticism of billionaires was lodged in from 2019 through 2021 than ever before. There is an audience hungry for this salaciously elaborate story of corruption, greed, and corporate malfeasance. * Colorful Cast: Caesars Palace Coup features a larger-than-life cast of characters, including: Mark Rowan, private equity firm Apollos wonderboy; Gary Loveman, Caesars resident Harvard-and-MIT-groomed genius; and Judge Benjamin Goldgar, the outspoken bankruptcy arbiter who toppled Caesars house of cards. * Dedicated Promotion: Authors continue to place articles in the Financial Times , Reuters, and Forbes ; and promote on LinkedIn and to their combined 5.6K Twitter followers. * Significant Author Platform: Author Max Frumes is the founding editor of Reorg Research , industry-leading provider of real-time finance news, which will promote Caesars Palace Coup to its 100K+ unique readers. * Industry Panels and Appearances: The authors continue to do industry events held by the Turnaround Management Association, the American Bankruptcy Institute, the American Bar Association, and at top business schools like Harvard, Wharton, and Columbia. Details ISBN1635767741 Author Max Frumes Short Title The Caesars Palace Coup Pages 352 Language English Year 2022 ISBN-10 1635767741 ISBN-13 9781635767742 Format Paperback DEWEY 364.16809793135 Country of Publication United States NZ Release Date 2022-08-25 US Release Date 2022-08-25 UK Release Date 2022-08-25 Imprint Diversion Books Place of Publication New York Publisher Diversion Books Publication Date 2022-08-25 Subtitle How A Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street Audience General AU Release Date 2022-11-14 Illustrations Illustrations We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! 30 DAY RETURN POLICY No questions asked, 30 day returns! FREE DELIVERY No matter where you are in the UK, delivery is free. SECURE PAYMENT Peace of mind by paying through PayPal and eBay Buyer Protection TheNile_Item_ID:138243417;

Price: 25.12 GBP

Location: London

End Time: 2024-11-09T16:36:52.000Z

Shipping Cost: 6.21 GBP