Shares of Caesars Entertainment Corp slid on Friday, a day after hitting a 16-month high, as investors awaited a midnight deadline for creditors to accept a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. Creditors have alleged that the parent and its private equity owners looted the subsidiary of its best casinos, leaving it unable to pay $18 billion of debt and sparking protracted legal fights. The latest offer from Caesars and private equity firms Apollo Global Management and TPG Capital Management would add $1.6 billion for hold-out junior creditors in exchange for them dropping legal claims worth billions of dollars.
Activists could take interest in the challenged group of non-urban hospital operators as they continue to disappoint investors.
Apollo Global Management, LLC (APO)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||17.68 x 500|
|Ask||17.80 x 600|
|Day's Range||17.78 - 17.97|
|52wk Range||12.35 - 19.18|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||18.64|
|Avg Vol (3m)||694,081|
|Dividend & Yield||1.48 (8.24%)|