Caesars Has $11.9B in Debt and Three Suitors. The Hotels Are an Afterthought.
Tilman Fertitta, Carl Icahn, and Caesars' own management are circling a deal at roughly $32 a share... but the real question for hotel operators is what happens to 50 properties when the new owner's first priority is servicing nearly $12 billion in debt, not renovating your lobby.