Casino News

Columbia Sussex company to sell casinos

2007-12-18 14:25:46

Columbia Sussex subsidiary Tropicana Entertainment has announced that it is to sell three of its casinos, it has been reported.

The company is getting rid of the Tropicana Casino Resort Atlantic City, the Vicksburg Casino in Mississippi and the Casino Aztar Evansville in Indiana, according to the Associated Press.

It was decided that these casinos should be sold after Tropicana's Atlantic City operation had its gaming license denied by the New Jersey Casino Control Commission last week.

Company spokesperson William J Yung III said: "We have developed a plan to address recent challenges by selling our properties in Atlantic City, Evansville and Vicksburg in an orderly manner, retiring our senior credit facility and positioning ourselves for long-term growth with what we hope will be a stronger balance sheet."

Tropicana still has several casinos on its books, including five in the state of Nevada and a few in the deep south.