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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