Caesars Owners Could Be On the Hook for $5.1 Billion To Creditors

Court-ordered examiner Richard Davis published a report earlier this week placing Caesars Entertainment Corp and its private equity backers, Apollo Global Management and TPG Capital, in hot water, according to reports from Reuters. The decision is related to the bankruptcy of its operating unit Caesars Entertainment Operating Co Inc.

Davis issued a 80-page report, which could potentially result in a whopping $5.1 billion in potential damages.

Davis is well known for his roll as a member of the Congressional investigation that resulted in the resignation of U.S. President Richard Nixon, due to the infamous Watergate scandal, and his roll in the U.S.-Iran hostage crisis while working at the…