A huge gamble on the gaming industry has come up snake eyes
| THE DEAL | |
| Company | Harrah's Entertainment |
| Type of business | Hotel and casino operator |
| Date completed | October 2006 |
| Sponsors | Apollo Global Management, TPG |
| Deal value | $27.4 billion |
| Equity | $5.7 billion |
| SNAPSHOT | |
| Value of equity | 0.25 times cost |
| Term loan | 83.75 |
| Secured 11.25% | 102.00 |
| Second lien | 71.00 |
| Guaranteed 10.75% | 67.00 |
| Senior unsecured 6.5% | 51.50 |
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