Caesars Entertainment is planning to make an initial public offering, only a year after cancelling previous proposals for a listing.
Ceasars, which is understood to have around $20bn of debt, is controlled by Apollo Global Management and TPG Capital and was taken private in 2006.
Market volatility was blamed for its decision to shelve its earlier IPO plans as conditions within the US market weakened its position. Under its new IPO, the company is seeking to raise $50m – a 10th of the sum it was seeking a year ago.
With such debts and no presence within the booming Asian gaming markets, there is doubt over whether the company will attract investors in high numbers. In the three months to June 30, however, the company achieved its best quarterly financial gains in three years.
