Carl Icahn is making a play for a hotel-casino that is down on its luck. Following months of anticipation, the billionaire and activist investor made a USD 200.0 million offer to acquire the Tropicana Casino and Resort in Atlantic City on Tuesday, demonstrating how poorly the gaming industry has fared over the last year amid the economic downturn. Year-earlier bids for the struggling casino were closer to USD 1.0 billion.