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Tropicana to Put Riverboat Casino on Auction Block

(August 2008) posted on Tue Aug 26, 2008 EDT


Tropicana Entertainment LLC will place one of its riverboat casinos on the auction block after postponing the ship's $220 million sale, The Wall Street Journal reports. Tropicana needs a nod from the Wilmington, Del., U.S. Bankruptcy Court to remarket the Casino Aztar in Evansville, Ind. In March, Tropicana agreed to sell the casino to Reno, Nev.-based hotel and casino operator Eldorado Resorts LLC, but filed for bankruptcy before finalizing the sale. After Eldorado tried to get a judge to force Tropicana to accept the offer, Tropicana voluntarily put the riverboat up for auction, hoping to generate a higher bid. Meantime, the Las Vegas Review-Journal reports that the Nevada Gaming Commission unanimously approved to hand over operational control of Tropicana to a four-person board while its members undergo investigation for licensing in the state.

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