Tropicana Bidding War Over

After months of offers and counter offers it now appears that the bidding war for the Tropicana casinos in Las Vegas and Atlantic City is over. Aztar Corp which owns the Tropicana has entered into a merger deal with Columbia Entertainment, the gaming arm of Kentucky based hotel operator Columbia Sussex Corp. They will pay $54 a share in cash for the company. The deal is said to be worth 2.75 billion.

Aztar originally entered into a deal with Pinnacle corp. This prompted a higher bid from Ameristar corp and those tow companies battled back and forth. After Ameristar dropped out of the bidding Columbia Entertainment entered the bidding race for Aztar.