Economic turmoil 'could have an impact on Tropicana'

2008-09-19 14:42:00

The sale of Atlantic City's Tropicana Casino and Resort could be in jeopardy because of this week's Wall Street upheaval, it has been suggested.

Casino Control Commission chairman Linda M Kassekert was quoted by the Press of Atlantic City as saying she had concerns that the Tropicana would not be able to be sold in time to meet the October deadline.

In the last few days, financial giant Lehman Brothers went bust and AIG and Merrill Lynch both had to be saved by the Federal Reserve and the Bank of America respectively.

"I think, frankly, we only have to look at what is going on on Wall Street to understand why the sale is moving so slowly," remarked Ms Kassekert.

The comments may demonstrate that the credit crunch is having a different effect upon the gaming industry than was first anticipated.

Totesport Peter Petrie claimed earlier this week that gambling turnover has yet to feel any impact from the economic problems.