Caesars Entertainment
PE-Owned1 Documented ImpactApollo and TPG acquired Harrah's in 2008 for $30.7B in one of the largest LBOs ever, loading $25B in debt. Extracted hundreds of millions in fees while transferring valuable real estate. Filed the largest bankruptcy in gaming history in 2015.
Ownership Information
Caesars Entertainment is owned by Apollo Global Management. Private equity ownership often leads to cost-cutting, price increases, and reduced quality of service as firms prioritize returns for investors over customers and employees.Learn more about PE ownership impact →
Timeline
Caesars Entertainment founded
Acquired by Apollo Global Management for $30.7 billion
Caesars filed largest gaming bankruptcy in history after $30.7B LBO
Apollo and TPG loaded $25B in debt onto Caesars in one of the largest LBOs ever. They extracted hundreds of millions in fees and transferred valuable real estate to entities they controlled. Filed Chapter 11 in January 2015. Creditors accused PE firms of looting the company.
How Apollo and TPG Milked Caesars Entertainment
Bloomberg →Before vs. After PE Acquisition
Debt loaded
Reported 2015
Before PE
Profitable operation
After PE
$25B in debt, bankruptcy
↓ 100%
Community Reviews
Share your experience →Tracked Locations
CA (2)
San Diego
1949 Main St
San Diego, CA 92101
555-865-8891
San Diego
1267 Main St
San Diego, CA 92101
555-361-7598
FL (1)
Orlando
3269 Main St
Orlando, FL 32801
555-969-2780
GA (2)
Atlanta
5341 Main St
Atlanta, GA 30301
555-944-2431
Atlanta
3697 Main St
Atlanta, GA 30301
555-937-9322
IN (1)
Indianapolis
5791 Main St
Indianapolis, IN 46201
555-335-4617
NC (1)
Raleigh
8457 Main St
Raleigh, NC 27601
555-229-3445
OR (1)
Portland
7571 Main St
Portland, OR 97201
555-704-7620
TX (1)
San Antonio
1382 Main St
San Antonio, TX 78201
555-914-5378