Tropicana Files for Bankruptcy Protection
When the Tropicana lost the license to operate the Atlantic City casino it triggered a lawsuit by bond holders seeking immediate repayment. Scott C. Butera, the company's president, said that without the Atlantic City casino, the company can't afford to pay its debt obligations. The bankruptcy filing is "an opportunity to take a breathing spell," and get its debt under control, and move forward.
He urged current patrons of the Tropicana and the company's other casinos to keep coming. "This is the first step in making things much better," he told The Associated Press in an interview Monday. "I'd encourage them to remain a customer of the Tropicana, and I'm sure the customer will be rewarded as we do better things and invest in our assets."
Comments
Good! I’m glad they are in bankruptcy. As time goes by, so will more casinos file for protection. The new mentality of the large corporate owners to gauge their customers to earn the highest profits and give little back is going to take it’s toll. These people have ruined the whole experience for those of us who enjoy playing – but we want to play with a chance of walking away ahead once in a while, not to be pick pocketed.
i agree………….some casinos are not fun anymore……nobody wins….so people will stop coming……