Render To The IRS What Is (Left Of) Caesars Caesars casino in - TopicsExpress

Render To The IRS What Is (Left Of) Caesars Caesars casino in hot water with IRS Private-equity giants Leon Black and David Bonderman may be holding a losing hand at Caesars Entertainment. The company, America’s largest casino chain, has revealed that it is the subject of a money-laundering probe by the IRS. News of the tax agency investigation comes days after Caesars revealed federal and state regulations have drawn a bead on its Las Vegas casino for possible violation of the Bank Secrecy Act and after state regulators in Massachusetts rejected the company’s application for a casino license in the Bay State. Black’s Apollo Management and Bonderman’s TPG Capital teamed on buying Caesars in a highly leveraged $30 billion 2008 buyout. Before the recent problems, Caesars — the biggest casino operator in Atlantic City — was already losing money and on track to run out of cash in mid-2015. reuters/article/2013/10/21/us-caesars-probe-idUSBRE99K0ZD20131021

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