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%
Tracked Locations
FL (1)
Orlando
4773 Main St
Orlando, FL 32801
555-159-6650
GA (1)
Atlanta
3106 Main St
Atlanta, GA 30301
555-132-5085
PA (2)
Pittsburgh
6750 Main St
Pittsburgh, PA 15201
555-168-1556
Pittsburgh
659 Main St
Pittsburgh, PA 15201
555-355-3828
TX (1)
Austin
7865 Main St
Austin, TX 73301
555-439-4946