Harrah's Entertainment

Paul A. Gompers; Kristin  Mugford; J. Daniel  Kim

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Case | HBS Case Collection | October 2012

Harrah's Entertainment

by Paul A. Gompers, Kristin Mugford and J. Daniel Kim

Abstract

This case examines the issues of establishing and managing a capital structure for the leveraged buyout of Harrah's Entertainment.

Keywords: private equity; leveraged buyouts; debt markets; loan contracts; covenants; casinos; gaming; Private Equity; Entertainment and Recreation Industry; United States;

Language: English

Format: Print

22 pages

Educators Purchase

Citation:

Gompers, Paul A., Kristin Mugford, and J. Daniel Kim. "Harrah's Entertainment." Harvard Business School Case 213-054, October 2012.

About the Authors

Paul A. Gompers

Eugene Holman Professor of Business Administration

Finance

Entrepreneurial Management

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Kristin Williams Mugford

Senior Lecturer of Business Administration

Finance

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Sabine Oil & Gas Corporation

Kristin Mugford

Citation:
Mugford, Kristin. "Sabine Oil & Gas Corporation." Harvard Business School Spreadsheet Supplement 218-744, April 2018. View Details

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Sabine Oil & Gas Corporation

Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott

In 2016, a trial began to determine the future of Sabine Oil & Gas Corporation’s $3 billion chapter 11 reorganization plan. The plan called for first and second lien secured creditors to receive new claims representing approximately 98% of the reorganized company’s enterprise value, leaving unsecured creditors, owed $1.4 billion, to recover less than two cents on the dollar. The plan had the support of the secured creditors, but unsecured creditors were strongly opposed. At the heart of the unsecured creditors’ objections to the plan was a dramatically different view on valuation. How much were Sabine's oil and gas reserves worth today? How much were they worth at the time Sabine filed for chapter 11? And, based on these valuations, what was a fair recovery for Sabine's creditors?

Keywords: corporate reorganization; chapter 11; oil ＆ gas; restructuring; bankruptcy; bankruptcy reorganization; Insolvency and Bankruptcy; Energy; Restructuring; Valuation; United States;

Citation:
Gilson, Stuart C., Kristin Mugford, and Sarah L. Abbott. "Sabine Oil & Gas Corporation." Harvard Business School Case 218-004, April 2018. View Details

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Harrah's Entertainment

Abstract

Citation:

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