Category Archives: Tropicana Entertainment

Atlantic City Death Watch II; Banquo's Ghost

Posted on November 22, 2008 by David McKee

Wow, I never thought we’d have our second installment so hard upon the first. But no sooner had S&G ticketed Resorts Atlantic City for a visit to Intensive Care comes word that it’s going to miss a $10 million loan … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, MGM Mirage, Regulation, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Atlantic City Death Watch II; Banquo's Ghost

Atlantic City Death Watch

Posted on November 21, 2008 by David McKee

New Jersey's Casino Control Commission has come out with a grim set of numbers regarding gross operating profitability in Atlantic City's casinos during 3Q08. And, as bad as these numbers sound, once the cost of operation is subtracted, a $121 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Station Casinos, Tropicana Entertainment | Comments Off on Atlantic City Death Watch

Butera up to old tricks; Dog days for Ruffin; Fowl play

Posted on November 17, 2008 by David McKee

Grasping at straws in his attempt to wrest control of the Tropicana Casino & Resort back from the New Jersey Casino Control Commission, the CEO of Tropicana Entertainment, Scott Butera, has seized upon a letter from state Sen. Richard Codey. … Continue reading →

Posted in Atlantic City, Columbia Sussex, G2E, Harrah's, Kansas, Marketing, Mississippi, Regulation, Tropicana Entertainment | Comments Off on Butera up to old tricks; Dog days for Ruffin; Fowl play

Aztar sale flops

Posted on November 7, 2008 by David McKee

Tropicana Entertainment President Scott Butera had a $225 million deal to sell Casino Aztar in hand. Not good enough, he said. Thus, a second round of bids was solicited. The grand total number of offers received: one. This lays the … Continue reading →

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Is Peter Carlino crazy?

Posted on October 24, 2008 by David McKee

Now I know that Penn National is all a-flush with cash these days and CEO Peter Carlino is probably feeling bullish. Still, in a recent visit to Vegas to assess possible casino acquisitions, he's alleged to have acted like he … Continue reading →

Posted in Atlantic City, Downtown, Harrah's, MGM Mirage, Penn National, Riviera, Sahara, Steve Wynn, Tamares Group, The Strip, Tropicana Entertainment | Comments Off on Is Peter Carlino crazy?

Butera to NJCCC: Your people are dopes

Posted on October 23, 2008 by David McKee

Tropicana Entertainment has formally petitioned the New Jersey Casino Control Commission for the return of its former Atlantic City casino. Oh, to be in the room when the arguments are thrashed out! Short of conducting an exorcism of the spirit … Continue reading →

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Smoke-filled room

Posted on October 21, 2008 by David McKee

Maybe all this fussin’ and frettin’ (some of it from yours truly) about casino smoking bans is masking the real issue: Casino expansion in the U.S. has finally hit the wall in the form of one big-ass recession. Five states … Continue reading →

Posted in Colorado, Harrah's, Louisiana, Mississippi, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Smoke-filled room

Smoke-filled room

Posted on October 21, 2008 by David McKee

Maybe all this fussin’ and frettin’ (some of it from yours truly) about casino smoking bans is masking the real issue: Casino expansion in the U.S. has finally hit the wall in the form of one big-ass recession. Five states … Continue reading →

Posted in Colorado, Harrah's, Louisiana, Mississippi, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Smoke-filled room

… or not

Posted on October 10, 2008 by David McKee

I’ve been informed that Tropicana Entertainment owner William J. Yung III has signed an irrevocable proxy and cannot vote his shares, no matter how many he owns. Nor he can he regain the reins of the company. Whether that is … Continue reading →

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He's baaaaaaaaaack!

Posted on October 10, 2008 by David McKee

Score one for Columbia Sussex CEO William J. Yung III. The New Jersey Supreme Court will hear his appeal of the New Jersey Casino Control Commission's revocation of his license, even though a lower court booted it, 3-0. ColSux has … Continue reading →

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Trop this!

Posted on October 9, 2008 by David McKee

The fourth time’s the charm — at least if you’re Justice Gary Stein, the tortoise-powered conservator of the Atlantic City Tropicana. Having prolonged the timeline for selling the mammoth hotel-casino three times already, he’s asking the state for a fourth … Continue reading →

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Still more Trop follies

Posted on October 3, 2008 by David McKee

Just when I was ready to get behind Tropicana Entertainment CEO Scott Butera's quest to reclaim the company's eponymous Atlantic City casino, he goes off his meds, so to speak. He blustered that "Our creditors, our employees and our neighbors … Continue reading →

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Lipstick on a pig

Posted on September 30, 2008 by David McKee

That’s how Atlantic City Tropicana conservator Justice Gary Stein is trying to pass off a deal that continues to make a loud “Oink!” He’s trying to spin the media that his $700 million agreement with Cordish Co. is really an … Continue reading →

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Case Bets: PR, Trump

Posted on September 30, 2008 by David McKee

Press releases are always manna on a slow news day but sometimes you get one (OK, many) that make you want to pull your hair. For instance, I received such a specimen late yesterday from an agency that shall remain … Continue reading →

Posted in Architecture, Dining, Donald Trump, Downtown, Harrah's, Steve Wynn, The Strip, Tilman Fertitta, Tropicana Entertainment | Comments Off on Case Bets: PR, Trump

$150 million

Posted on September 25, 2008 by David McKee

That’s at least how much money was left on the table by Tropicana Atlantic City‘s state-appointed conservator, Justice Gary Stein, when he chucked out all the first-round bids last spring. One of the lower known offers at that time was … Continue reading →

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Kansas, Round 2: It's Cordish!

Posted on September 19, 2008 by David McKee

OK, I was wrong. Incredibly wrong. As you’ll hear on the next Vegas Gang podcast, I stuck by my prediction that Kansas‘ largest casino contract, the one for the greater Kansas City area, would go to Mohegan Sun. Why? Biggest … Continue reading →

Posted in Atlantic City, Columbia Sussex, Current, Golden Gaming, Kansas, Mississippi, Penn National, Pinnacle Entertainment, Sheldon Adelson, Tribal, Tropicana Entertainment | Comments Off on Kansas, Round 2: It's Cordish!

More Trop tomfoolery

Posted on September 16, 2008 by David McKee

Justice Gary Stein's trusteeship of the Atlantic City Tropicana continues its slide toward disaster. The UAW has filed a charge with the National Labor Relations Board, accusing Stein of a lack of good-faith bargaining. Stein has said in the past … Continue reading →

Posted in Atlantic City, Columbia Sussex, Labor, Missouri, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on More Trop tomfoolery