Tropicana Casino Bidding Expected To Exceed One Billion Dollars
The Tropicana Casino in Atlantic City has been a staple in the state of New Jersey for a long time. For over twenty five years, the casino has been pulling in clients from all across the world.Pretty soon, the established casino will have a worth of over one billion dollars. That is because there have already been offers made in that number range for control of the casino.
An unnamed investor has offered a bid of $950 million for control of the casino. The bid also includes another proposed $150 million in upgrades for the casino that just in December lost its owners.
Columbia Sussex had owned the casino, but they lost control after the New Jersey Casino Control Commission ruled in December to not renew their licenses. The reason was the company was not upholding a top class facility anymore.
Former New Jersey Supreme Court Justice Gary Stein was put in control of the casino. It will remain in his control to oversee until someone buys it. So far, the $950 million offer is the highest. One came in for $850 million by Colony Capital LLC.
