Tropicana Entertainment
Encyclopedia
Tropicana Entertainment Inc, (formerly known as Wimar Tahoe Corporation) is a privately owned but publicly reporting corporation located in Las Vegas
, Nevada
, that owns or operates 9 casinos and resorts in the United States.
Tropicana Entertainment manages more than 8,200 rooms, 14,000 slots and 400 table games. The company's management has operated in the hotel/hospitality industry for more than 35 years.
and all the rest of publicly-traded Aztar Corporation for approximately $2.1 billion in cash. The acquisition was approved by the Nevada Gaming Commission
on November 17, 2006, and was completed in December of that year. Tropicana Entertainment was created and it became a wholly owned subsidiary of Columbia Sussex
.
of the U.S. Bankruptcy Code so it could work to maximize the value of the its assets through a comprehensive restructuring. The Amelia Belle Casino and the Tropicana Atlantic City were not included in the filing.
Columbia Sussex has suffered several setbacks, caused in part by the cost of the Aztar acquisition and the subsequent loss of the license to operate its casino in Atlantic City
, New Jersey
.
On May 5, 2009, Tropicana Entertainment received approval from a Delaware Bankruptcy Court to reorganize and emerge from bankruptcy with the bondholders taking control of the company. Under the terms of the court approved agreement, which requires approval from gaming regulators in New Jersey, Nevada, Indiana
, Louisiana
and Mississippi
, the company will be split in two. One part would be the Tropicana Resort and Casino, Las Vegas. The other part would own the remaining casinos, and would retain the name Tropicana Entertainment.
Las Vegas metropolitan area
The Las Vegas Valley is the heart of the Las Vegas-Paradise, NV MSA also known as the Las Vegas–Paradise–Henderson MSA which includes all of Clark County, Nevada, and is a metropolitan area in the southern part of the U.S. state of Nevada. The Valley is defined by the Las Vegas Valley landform, a ...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
, that owns or operates 9 casinos and resorts in the United States.
Tropicana Entertainment manages more than 8,200 rooms, 14,000 slots and 400 table games. The company's management has operated in the hotel/hospitality industry for more than 35 years.
History
In May 2006, Columbia Sussex Corp. acquired the Tropicana Resort and CasinoTropicana Resort & Casino
Tropicana Las Vegas is located on the Las Vegas Strip, in the township of Paradise, Nevada. It is owned by Tropicana Las Vegas Hotel and Resort Inc. and operated by Alex Yemenidjian's Armenco Holdings. It offers 1,658 rooms and is attached to a casino...
and all the rest of publicly-traded Aztar Corporation for approximately $2.1 billion in cash. The acquisition was approved by the Nevada Gaming Commission
Nevada Gaming Commission
The Nevada Gaming Commission is a Nevada state governmental agency involved in the regulation of casinos throughout the state, along with the Nevada Gaming Control Board. It was founded in 1959 by the Nevada Legislature....
on November 17, 2006, and was completed in December of that year. Tropicana Entertainment was created and it became a wholly owned subsidiary of Columbia Sussex
Columbia Sussex
Columbia Sussex is a private hospitality company based in Crestview Hills, Kentucky. The company, owned by the Yung family, owns and operates hotels in various parts of the United States. , the company operated 73 hotels under 13 different brands. The current president is William J...
.
Bankruptcy
On May 5, 2008, Tropicana Entertainment filed voluntary petitions for reorganization under Chapter 11Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
of the U.S. Bankruptcy Code so it could work to maximize the value of the its assets through a comprehensive restructuring. The Amelia Belle Casino and the Tropicana Atlantic City were not included in the filing.
Columbia Sussex has suffered several setbacks, caused in part by the cost of the Aztar acquisition and the subsequent loss of the license to operate its casino in Atlantic City
Atlantic City, New Jersey
Atlantic City is a city in Atlantic County, New Jersey, United States, and a nationally renowned resort city for gambling, shopping and fine dining. The city also served as the inspiration for the American version of the board game Monopoly. Atlantic City is located on Absecon Island on the coast...
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
.
On May 5, 2009, Tropicana Entertainment received approval from a Delaware Bankruptcy Court to reorganize and emerge from bankruptcy with the bondholders taking control of the company. Under the terms of the court approved agreement, which requires approval from gaming regulators in New Jersey, Nevada, Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
and Mississippi
Mississippi
Mississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, the company will be split in two. One part would be the Tropicana Resort and Casino, Las Vegas. The other part would own the remaining casinos, and would retain the name Tropicana Entertainment.
Casinos
- Belle of Baton Rouge, Baton Rouge, LouisianaBaton Rouge, LouisianaBaton Rouge is the capital of the U.S. state of Louisiana. It is located in East Baton Rouge Parish and is the second-largest city in the state.Baton Rouge is a major industrial, petrochemical, medical, and research center of the American South...
- Casino Aztar EvansvilleCasino Aztar EvansvilleCasino Aztar, located in downtown Evansville, Indiana, was the first riverboat casino in the state of Indiana, United States. The casino is owned and operated by Tropicana Entertainment which purchased original owner Aztar Corporation in 2007....
, Evansville, IndianaEvansville, IndianaEvansville is the third-largest city in the U.S. state of Indiana and the largest city in Southern Indiana. As of the 2010 census, the city had a total population of 117,429. It is the county seat of Vanderburgh County and the regional hub for both Southwestern Indiana and the... - Horizon Vicksburg, Vicksburg, MississippiVicksburg, MississippiVicksburg is a city in Warren County, Mississippi, United States. It is the only city in Warren County. It is located northwest of New Orleans on the Mississippi and Yazoo rivers, and due west of Jackson, the state capital. In 1900, 14,834 people lived in Vicksburg; in 1910, 20,814; in 1920,...
(sale pending) - Horizon Casino Resort, Stateline, NevadaStateline, Nevada-Demographics:As of the census of 2000, there were 1,215 people, 510 households, and 245 families residing in the CDP. The population density was 1,803.3 people per square mile . There were 562 housing units at an average density of 834.1 per square mile...
- Lighthouse Point Casino, Greenville, MississippiGreenville, MississippiGreenville is a city in Washington County, Mississippi, United States. The population was 48,633 at the 2000 census, but according to the 2009 census bureau estimates, it has since declined to 42,764, making it the eighth-largest city in the state. It is the county seat of Washington...
- MontBleu Resort Casino & SpaMontBleu Resort Casino & SpaMontBleu Resort Casino & Spa, located in Stateline, Nevada, is owned and operated by Tropicana Entertainment. The property includes a casino and a 437-room hotel on a site. Montbleu is home to the AAA 4-Diamond Award Winning restaurant Ciera Steak + Chophouse.-History:The hotel first opened as...
, Stateline, NevadaStateline, Nevada-Demographics:As of the census of 2000, there were 1,215 people, 510 households, and 245 families residing in the CDP. The population density was 1,803.3 people per square mile . There were 562 housing units at an average density of 834.1 per square mile...
(formerly Caesars Tahoe) - River Palms CasinoRiver Palms CasinoThe River Palms Resort Casino, located in Laughlin, Nevada, USA, is owned and operated by Tropicana Entertainment. The property includes a casino and more than 1,000 hotel rooms in a 25-story tower...
, Laughlin, NevadaLaughlin, NevadaLaughlin is a census-designated place in Clark County, Nevada, United States, and a port located on the Colorado River. Laughlin is south of Las Vegas, located in the far southern tip of Nevada. It is best known for its gaming, entertainment, and water recreation. As of the 2010 census, the... - Tropicana Casino and Resort Atlantic City (Reacquired in 2010)
- Tropicana Express Hotel and CasinoTropicana Express Hotel and CasinoTropicana Express is a casino resort in Laughlin, Nevada with 1,498 rooms; 1,050 slot machines, and 21 table games.The hotel's pool is shaped like a locomotive....
, Laughlin, NevadaLaughlin, NevadaLaughlin is a census-designated place in Clark County, Nevada, United States, and a port located on the Colorado River. Laughlin is south of Las Vegas, located in the far southern tip of Nevada. It is best known for its gaming, entertainment, and water recreation. As of the 2010 census, the...
(former name Ramada Express)
Previous casinos
- Tropicana Resort and CasinoTropicana Resort & CasinoTropicana Las Vegas is located on the Las Vegas Strip, in the township of Paradise, Nevada. It is owned by Tropicana Las Vegas Hotel and Resort Inc. and operated by Alex Yemenidjian's Armenco Holdings. It offers 1,658 rooms and is attached to a casino...
, Las Vegas StripLas Vegas StripThe Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester... - Casino AztarLady Luck Casino CaruthersvilleLady Luck Casino Caruthersville is a riverboat casino located in Caruthersville, Missouri that is owned and operated by Isle of Capri Casinos...
, Caruthersville, MissouriCaruthersville, MissouriCaruthersville is the most populous city and county seat of Pemiscot County, located along the Mississippi River in the bootheel of southeastern Missouri in the United States. The population was 6,760 at the 2000 census.-History:...
(Now Lady Luck Casino CaruthersvilleLady Luck Casino CaruthersvilleLady Luck Casino Caruthersville is a riverboat casino located in Caruthersville, Missouri that is owned and operated by Isle of Capri Casinos...
) - Horizon Vicksburg Casino, Vicksburg, MississippiVicksburg, MississippiVicksburg is a city in Warren County, Mississippi, United States. It is the only city in Warren County. It is located northwest of New Orleans on the Mississippi and Yazoo rivers, and due west of Jackson, the state capital. In 1900, 14,834 people lived in Vicksburg; in 1910, 20,814; in 1920,...
(Now Grand Station Vicksburg) - Horizon Lake Tahoe Casino, Stateline, NevadaStateline, Nevada-Demographics:As of the census of 2000, there were 1,215 people, 510 households, and 245 families residing in the CDP. The population density was 1,803.3 people per square mile . There were 562 housing units at an average density of 834.1 per square mile...