Casino News

Icahn 'may be considering Tropicana bid'

2009-02-20 13:57:05

Financier Carl Icahn is one of the lenders rumoured to be considering purchasing the Atlantic City Tropicana casino, it has been reported.

New Jersey's casino control commission voted not to renew the facility's license following complaints about compliance with gambling laws and hotel operations, according to Reuters.

It is expected that the property will go on the auction block in March - but the news source reports that gambling revenue in Atlantic City has fallen in the current economic climate.

Meanwhile, new casinos in neighbouring Pennsylvania and New York have increased competition for Atlantic City casinos.

A conservator is currently overseeing the property.

In 2007, Fortune magazine dubbed Icahn "the shrewdest investor on the planet".

According to the publication, Icahn prefers to spread his investments across a range of industries - ranging from large corporations such as Time Warner and Motorola to pharmaceuticals, real estate, oil and gas, hotels and auto parts.