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Tropicana Rumble Continues : Columbia-Sussex Bids 1.7B for Aztar

By Chuckmonster on Monday, 17th April 2006 8:52am
  » filed under Las Vegas  comments: 0

   

The bidding contest for Aztar Corp. intensified as Columbia Sussex Corp. offered $1.68 billion for the owner of the Tropicana casino in Las Vegas, topping three rival offers.

Columbia made an unsolicited $47 a share bid, Phoenix-based Aztar said today in a statement. Columbia owns nine casinos and 83 hotels including the upscale Westin Casuarina in Las Vegas.

The four suitors including Pinnacle Entertainment Inc., Colony Capital LLC and Ameristar Casinos Inc. are vying to win Aztar for the 34-acre site its owns on the Strip. The property, home to the Tropicana, is considered a prime redevelopment opportunity in the biggest U.S. gaming market.

[ Columbia-Sussex owns Horizon and Caesars in Lake Tahoe as well as the Westin Causarina in Vegas. - Ed ]



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