Tag Archives: apollo global management

Creditors frown, Caesars celebrates as Illinois approves refinancing plan
July 24, 2014
Troubled US casino operator Caesars Entertainment dodged a bullet on Thursday after Illinois gaming regulators approved the company’s latest refinancing plan. Some holders of Caesars’ industry-high $24b debt load had grown suspicious of Caesars’ asset shell game, which appeared to be a ploy to protect its more profitable operations from...
IGT confirms it’s exploring sale, GTECH confirms it’s kicking IGT’s tires
June 16, 2014
A week after sale rumors first floated, gaming device maker International Game Technology (IGT) has confirmed that it is at least considering the possibility of letting itself be acquired. In a brief statement issued on Monday, IGT said it is exploring “a broad range of strategic alternatives” which could include...
Caesars hatches plan to kick $4.85b can of debt down the road
September 19, 2013
Online poker took another step toward mainstream American acceptance on Thursday via the official launch of real-money play at WSOP.com, the Nevada-licensed online poker site from Caesars Interactive Entertainment. The launch officially brings to an end the Nevada-facing monopoly previously enjoyed by Fertitta Interactive’s Ultimate Poker, which began dealing real-money...
Sands boots China COO; Caesars targeted by short sellers, state treasurers
September 3, 2013
Casino operator Las Vegas Sands has lost and/or gotten rid of the number two exec at its dominant Sands China division. On Tuesday, a Sands China official told the Wall Street Journal that chief operating officer David Sisk “has resigned and is no longer with the company” although other sources...
Hedge funds push to restructure Caesars Ent. ahead of debt deadline
June 1, 2013
Caesars Entertainment has finalized a deal that will see Chile’s leading casino operator Enjoy S.A. acquire 45% of the Caesars-owned Conrad Punta Del Este Resort and Casino in Uruguay. The deal allows Enjoy the option of acquiring the remaining 55% stake in the casino between years three and five of...
Investing The Hard Way: Caesars’ Big, Stupid Move
April 29, 2013
“The market can stay irrational longer than you can remain solvent.” – John Maynard Keynes The above quote summarizes the greatest, but far from only, danger in selling stocks short. Every investment has some risk, of course, but a short play – essentially a bet that the price of a...