Tropicana Entertainment Inc. is the Cheapest US Casino Operator - TPCA
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Tropicana Entertainment Inc. was formed from the remnants of Tropicana Entertainment, LLC which went bankrupt in 2008. Famed investor Carl Icahn brought the company out of bankruptcy in 2010 and used a company subsidiary to purchase the Tropicana Casino in Atlantic City, which had earlier been lost to creditors. As part of the reorganizing process, an entity associated with Mr. Icahn provided $150 million in exit financing (at a healthy coupon of 15%!). After selling or closing a few under-performing properties, Tropicana now owns and operates seven casinos across the US as well as one in Aruba. Carl Icahn owns 67.89% of shares outstanding.
Tropicana Entertainment Inc. is the Cheapest US Casino Operator - TPCA
Tropicana Entertainment Inc. is the Cheapest…
Tropicana Entertainment Inc. is the Cheapest US Casino Operator - TPCA
Tropicana Entertainment Inc. was formed from the remnants of Tropicana Entertainment, LLC which went bankrupt in 2008. Famed investor Carl Icahn brought the company out of bankruptcy in 2010 and used a company subsidiary to purchase the Tropicana Casino in Atlantic City, which had earlier been lost to creditors. As part of the reorganizing process, an entity associated with Mr. Icahn provided $150 million in exit financing (at a healthy coupon of 15%!). After selling or closing a few under-performing properties, Tropicana now owns and operates seven casinos across the US as well as one in Aruba. Carl Icahn owns 67.89% of shares outstanding.