Seeking Alpha

Hedge funds set to spar over Caesars Entertainment sale plan

  • Appaloosa Management is part of a group of vocal bondholders set to sue Caesars Entertainment (CZR) over a plan to sell four of its casinos within the Caesars family of businesses.
  • The bondholders maintain the sale will limit the ability of Caesars to pay off its debt obligations.
  • The legal action will pit Appaloosa against Apollo Global Management and TPG which stand the benefit from the asset-swapping moves.
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