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Tropicana in Atlantic City May Go On the Auction Block

Wednesday, April 29, 2009

ATLANTIC CITY, New Jersey -- As reported by the Philadelphia Inquirer: "The Tropicana Casino & Resort is expected to go on the auction block today.

"The New Jersey Casino Control CommissionTropicana Atlantic City
Tropicana Atlantic City
  will vote on a deal between Tropicana trustee Gary Stein and the casino's senior lenders at a hearing here this morning.

"An approval by the commission would authorize Stein to seek permission from a federal bankruptcy court to move forward with an auction, and for a group of senior lenders to act as the stalking horse bidder with a $200 million credit bid for the troubled Tropicana.

"The lender group includes billionaire developer Carl Icahn, who previously owned the Sands Hotel Casino on the Boardwalk before selling it and adjacent land in late 2006..."

 

Tropicana Atlantic City
South Brighton Avenue and the Boardwalk
Atlantic City, NJ 08401
Phone: (609) 340-4000
Toll Free Phone: (800) THE-TROP
Website: www.tropicana.net
The Tropicana Casino and Resort has luxury ocean view hotel rooms and hotel suites, round-the-clock casino gaming, gourmet dining, live entertainment, the nearby beach and Boardwalk, and a wealth of shopping.
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