Posted on 05/05/2008 3:25:40 PM PDT by BurbankKarl
The fallout from losing its New Jersey casino license will force the owner of Tropicana casinos in Atlantic City and Las Vegas to seek Chapter 11 bankruptcy protection, the company said Monday.
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The bankruptcy filing would cover nine properties: The Tropicana Casino & Resort in Las Vegas; Bayou Caddy's Jubilee Casino in Greenville, Miss.; Casino Aztar in Evansville, Ind.; Horizon Casino Hotel in Vicksburg, Miss.; Horizon Casino Resort and the MontBleu Resort Casino & Spa, both in Lake Tahoe, Nev.; the Tropicana Express Hotel & Casino in Laughlin, Nev.; River Palms Resort & Casino in Laughlin, Nev.; and the Sheraton Hotel and Belle of Baton Rogue Casino in Baton Rouge, La.
The filing would not cover the Tropicana in Atlantic City, which is in the process of being sold by a state-appointed conservator. The sale was mandated when the former owners lost their license in December.
The other Tropicana Entertainment property excluded from the bankruptcy filing is the Lighthouse Point Casino in Greenville, Miss.
(Excerpt) Read more at biz.yahoo.com ...
LV is still brisk in construction.
LV’s growing, but the Tropicana is much older and visibly inferior to many of the new LV casinos.
The Tropicana Express in Laughlin has already changed hands at least once. I think the River Palms too. As for the Trop in Vegas, you have to love that casino. Old School class all the way (though it does need some infrastructure upkeep and modernization).
Interesting to see what will happen to this Sin City institution.
True, it’s getting older.
and LV’s visitors are down substantially...
Still my wife and I will go there some time mid June.
We'll go there for very minor gambling and to see a show or two.
She'll be 7 months along and that will be the LAST trip for a while that doesn't involved a maternity ward. :-)
You should be able to get a good rate...
It's remarkable inexpensive to have short vacations and to stay there.
This company is owned by a local guy, Bill Yung who wrote a one million dollar check last fall to produce attack ads against the luckless incumbent Republican Governor Fletcher.
The Dem who was running on a promise to take care of Kentuckys children by ammending the constitution to allow Casino gambling won handily.
However new Gov Beshear (D) has proven to be an incompetent dolt who can not even get his own party into line.
The Casino issue here appears deader than poor Eight Belles.
This guy raided the Trop in Atlantic City and drove the customers out. He slashed the employee numbers. He cut the payroll and managed to have the filthiest casino hotel in AC. The employee’s did not deserve this raider. He will lose this casino ( I hope) and the hotel will get better. Bed bugs do not sit well with customers. Employee’s cheer his ouster.
I hear you, I think he fantasized his NKY background (Newport) was all he needed to get into the Casino Biz. Things have changed a lot since Bugsy Siegle and that crowd though!
Guess I better not make that Labor Day weekend reservation at South Tahoe this year, Eh?
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