Atlantic City - The New Jersey Casino Control Commission today extended the sale deadline of the Tropicana casino here until April 30. The commission also gave the casino's trustee and a group of lenders until March 30 to make final an agreement that would clear the way for a bankruptcy auction of the casino. Gary Stein, Tropicana trustee and a former New Jersey Supreme Court justice, has been trying to sell the casino since December 2007...

Atlantic City - A group including billionaire financier Carl Icahn says it plans to bid for Atlantic City's Tropicana Casino and Resort in a bankruptcy court auction. The committee of lenders and investors filed a petition Monday with the New Jersey Casino Control Commission indicating its intent to bid on the casino. An offering price will be determined by April 1.

Atlantic City - There is a chance that the "stalking horse" that wants to buy Tropicana Casino and Resort may not finish the race or even get out of the starting gate. Cordish Co., the Baltimore developer designated last fall as the so-called stalking horse, or leading bidder, in Tropicana's protracted sale, missed a deadline Monday to reach agreement to buy the troubled casino.

The former owners of the Tropicana Casino & Resort "lacked financial integrity and responsibility, as well as business ability," and deserved to be stripped of their casino license, the New Jersey Supreme Court ruled unanimously last week. The decision, coming just eight days after the court heard oral arguments in the case, clears the way for a state-appointed trustee to sell the troubled gambling hall in a Bankruptcy Court auction.

Atlantic City is desperately in need of some positive news. Their casinos have been experiencing record slowdowns, and projects that were set to be finished have been put on hold. Tuesday, the news could get worse for the city. The New Jersey Supreme Court will rule whether the former owners of the Tropicana Casino and Resort were wrongly stripped of their license last December. Tropicana Entertainment LLC has appealed to the state Supreme Court after losing their license.

New York (Reuters) - Bankrupt Tropicana Entertainment LLC asked New Jersey gaming regulators to return control of its Atlantic City casino on Thursday, saying it would do a better job of returning it to profitability as the state seeks a buyer for the property. The privately held casino operator, which filed for Chapter 11 bankruptcy protection in May, has since severed relations with its founder and former chief executive, William Yung III, and his Columbia Sussex Corp hotel company.

Las Vegas (Business Wire) - Tropicana Entertainment, LLC issued the following statement contesting the terms that were revealed today by conservator Justice Gary Stein about The Cordish Company's expression of interest in buying the Tropicana Casino & Resort in Atlantic City. We commend Justice Gary Stein for disclosing some of the terms under which The Cordish Company proposes to purchase the Tropicana Casino & Resort in Atlantic City, New Jersey.

Tropicana Entertainment LLC will be allowed to place Casino Aztar on the auction block again. A Delaware judge gave Tropicana Entertainment permission today to hold a new sale of Casino Aztar. In March, Tropicana had agreed to sell the casino to Eldorado Resorts LLC for as much as USD 245 million. The transaction was to take place once Eldorado, based in a Reno, Nev., obtained a license to run a casino in Indiana.

Atlantic City, New Jersey - The United Auto Workers filed an unfair labor practice charge Monday against the Tropicana Casino and Resort, alleging that interim management is refusing to bargain in good faith while a buyer is sought for the property. The union is attempting to unionize dealers at all 11 Atlantic City casinos. The casino's former owners were stripped of their casino license last December...

The former operator of the Tropicana Casino and Resort in Atlantic City intends to petition the New Jersey Casino Control Commission to retake control of the resort, Newsday reported this week. Tropicana Entertainment filed papers on September 5 in US Bankruptcy Court in Delaware informing the court of its intention to petition for control of the Tropicana on the grounds that William Yung III, a former officer of Tropicana Entertainment, stepped down from his position...

Tropicana Entertainment filed a motion in US bankruptcy court to seek a better sale price for its Indiana casino, the same day two unions voted in favor of a new contract for 750 workers at the company’s Las Vegas Strip property. The company said last Friday it hopes to get a higher bid for Casino Aztar in Evansville, Indiana. Tropicana already agreed to sell the property to Eldorado Resorts in March, but said it was operating under a different governance structure.

Northern Kentucky hotel mogul Bill Yung stands to lose more than [[USD]] 500 million from the bankruptcy of Tropicana Entertainment LLC, which is relocating its headquarters to Las Vegas and canceling management-services contracts worth more than [[USD]] 1 million a year with Yung’s hotel company, Columbia Sussex Corp. It’s not yet clear what impact those hits will have on Columbia Sussex...