..

Carl Icahn Takes Over Tropicana Atlantic City

Written by:
Guest
Published on:
Mar/04/2010

(Reuters) - Billionaire investor Carl Icahn has regulatory approval to own the Tropicana Casino Resort in Atlantic City, the New Jersey Casino Control Commission said on Wednesday.

The agency voted to give Icahn "interim" authorization to own and operate the property while it conducts a full investigation and hearing into the suitability of the company and its owners.

"Carl Icahn's return to the business of gaming in New Jersey certainly brings ... signs of rejuvenation and optimism in the market," Sharon Anne Harrington, the commission's vice-chair, said in a statement.

The New Jersey commission in December 2007 appointed a conservator to oversee the Tropicana after voting not to renew the casino's license amid complaints about hotel operations and compliance with gambling regulations.

The casino-hotel had been owned by Tropicana Entertainment TRPET.UL, a subsidiary, before filing for bankruptcy in 2008, of hotel and casino investor Columbia Sussex Corp.

In a bankruptcy auction last year, Icahn agreed to acquire the Tropicana Atlantic City for $200 million. The financier is currently battling with celebrity real estate developer Donald Trump over control of bankrupt Trump Entertainment Resorts (TRMPQ.PK), which has three casinos in Atlantic City.

Business/Financial News

Litecoin Leads Way With Crypto Surge

Bitcoin and other cryptocurrencies continue to be on the rise in recent days, lead by none other than Litecoin.

Ver: COVID-19 Lockdowns Will Kill More Than Disease Itself

Ver: COVID-19 Lockdowns Will Kill More Than Disease Itself

Referred to as "Bitcoin Jesus," one of Bitcoin's earliest investors, Roger Ver, is among those in the camp that believes stringent home lockdowns to combat the Covid-19 pandemic will cause more harm than good.

Morehead: "Bitcoin Born in a Financial Crisis,  It Will Come of Age in This One"

Morehead: "Bitcoin Born in a Financial Crisis, It Will Come of Age in This One"

CEO of Pantera Capital, the first investment firm in the US to launch digital currency, pre-auction ICO, and blockchain-enabled venture funds, noted Monday that Bitcoin is up 1% on the year as of Monday while pointing to other financials including commodities and the S&P 500, all down by 15% or more.

Becoming a Bookie During the Coronavirus Pandemic

Becoming a Bookie During the Coronavirus Pandemic

With millions of people out of work and the anticipated slowdown in some sectors that will follow the coronavirus pandemic, opportunities are still plentiful for independent contractors and those with business smarts.  There may never be a greater time to become a bookie

Financial Markets Betting - April 1, 2020

Financial Markets Betting - April 1, 2020

Bookmaker.eu is currently offering odds on the financial market, specifically the OVER/UNDER on the Dow for April 1, 2020.  Today's number was set at 21250 -101

Syndicate