Bankrupt Tropicana Asks For Control Of Their Former Casino
Tropicana Entertainment is in the midst of one of their worst year's ever. They have filed for bankruptcy protection and have lost control of their Atlantic City casino.
With those events came change from within the company. They are now feeling like they have revamped successfully and want control back of their casino. They have asked gaming regulators in New Jersey for a second chance.
The company told regulators that they would do a better job of running the casino while the state tried to find a buyer. They claim they can maximize the profitability of the casino.
Maximizing profit is something that almost every casino in the country is now trying to do. The economy has hit the casino industry bad and many developers have slowed their expansion projects until the economy picks back up.
The casino would gain bankruptcy protection if it was returned to its original owner. The company also vowed to make investments and place new management in the casino, "so that it can be either sold at a fair price or realize its longer term value as a going concern within Tropicana's current corporate structure," said Tropicana Chief Executive Scott Butera.
October 24, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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