Cordish Co. Emerges As favorite To Buy Tropicana Casino In AC

Atlantic City is still trying to sell the Tropicana Casino and Resort despite efforts by its old owners to regain control of the property. The Cordish Co. has now become the favorite to acquire the casino.

The sale price for the casino appears to be in the range of $700 million. The company emerged as the leading candidate to take the casino in part because they have been involved with reclamation projects in the past.

Cordish has been making a strong push to acquire casinos in the past several years. Last year, they came close to picking up Trump Entertainment Resorts, but they could not reach a deal and the talks ended in the late part of 2007.

Cordish is known for major development projects. Although they are all not casino related, their track record is excellent in places such as Baltimore, Kentucky, Florida, and Texas.

Now that Cordish has made an offer, it will be submitted to a bank court judge in Delaware. The property will then be opened to an auction where other bidders can place offers that are higher than the one that Cordish has offered up.

September 23, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
Submit News!