“
Harrah’s had committed to finishing the new Octavius hotel tower at Caesars Palace and spent $1.1 billion in capital investments in 2008. By 2010, capital investments had dropped to just $160 million. One bellman at The Paris described the years after the Apollo/TPG takeover: “It felt ugly after the buyout. Before you could service the guest, it was a great place to work before those private equity guys took over.” Attrition and hiring freezes meant that employees were often forced to do the work of two people. Customers were suddenly facing longer lines to check in and have their luggage delivered, which proved stressful both for guests and the remaining staff. Holes in the wall weren’t fixed because maintenance crews were let go, and there was no money for repairs anyway. Duct-taped carpet was evident everywhere. The system for delivering and bussing room service orders broke down, leaving carts of food scraps next to elevators and guest rooms, leading customers to complain and forcing the union to intervene.
”
”
Sujeet Indap (The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Corruption of the Private Equity Industry)