The Caesars Palace Coup cover art

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

By: Max Frumes, Sujeet Indap
Narrated by: Chris Kipiniak
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About this listen

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 Tantor Con Artists, Hoaxes & Deceptions Corporate & Public Finance True Crime Corporate Hedge Fund Wall Street Business Crime

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All stars
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This is a highly complex story/investigation with many moving parts but it is told with clarity and is a complete page turner

Complex story told with clarity

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Really enjoyable case study, offering real insights into the work of private equity and debt markets and how they really run the economy.

Insightful and entertaining

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Fabulous narration of a well researched and flowing book which kept me interested all through each chapter.

Fantastically researched and chronicled book

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Fascinating insight into the ruthless Apollo machine. These are FT writers and are clearly writing for a finance type audience. Even so, they could have simplified some of the technical back and forth. It’s also a bit too long.

Great story but too technical

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Whilst interesting, the complexity of the case and legal terminology left me somewhat confused. An interesting listen all the same but not riveting as any major plot twists are somewhat lost given I had no idea what was going on most of the time.

A bit too technical

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Not bad, but difficult to follow as an audiobook given a lot of the legal maneuvers could have really benefited from being represented visually on a corporate org chart.

Could have been shorter.

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Even Chris the narrator sounded like he was struggling to stay awake. Far too technical and detailed. What should be a fascinating story is more like reading hours of an actual office, minutes of meeting, notes. Haven't read anything as bad as this. Ever.

An interesting story told utterly boring

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