Tropicana's ex-owner says casino is worth $950 million in cash
3 Oct 2008
ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Tropicana Casino and Resort's former owner says the troubled gaming hall is worth nearly $1 billion and will try to regain control of it as plans move ahead with a sale.
"Tropicana Entertainment LLC, which was stripped of its New Jersey gaming license last December, told the U.S. Bankruptcy Court on Thursday that the 'minimum acceptable sale price"'for the casino is $950 million in cash.
"That figure far exceeds the $700 million offer in cash and notes submitted by the Cordish Co., a Baltimore developer that has been designated Tropicana's lead bidder in an upcoming bankruptcy auction..."
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