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Tropicana Owner Does The Damage Control Watusi

By Chuckmonster on Wednesday, 23rd January 2008 12:54am
  » filed under Las Vegas  comments: 0


The famed Wall Street Journal has benevolently given the stage to embattled Columbia-Sussex CEO William Yung, current owner of the Tropicana Las Vegas. As you may recall, Columbia-Sussex was recently shown the way to the westbound Atlantic City Expressway after New Jersey casino regulators found Yung & Company failed to meet "the state's strict operating standards for financial responsibility, character and integrity."

With tail between his legs and a line of creditors waiting to saddle up for their turn, Mr. Yung has offered an ever so slight mea culpa and an optimistic view on the future of the Tropicana Las Vegas' temporarily hosed refurbishment. Mr. Yung states that, despite the near-mayhem caused by Jersey's regulatory asswhippin', he's believes that there is still a "chance to get [the Tropicana Las Vegas redux project] financed."

He goes on to say that he didn't really want the Atlantic City Tropicana when Columbia-Sussex paid $2B for previous owner Aztar after a protracted bidding war. Well, he got it. Let's see if Columbia-Sussex blows it. Again.

I guess we can put the formerly scheduled Tropicana implosion on the back burner for a while.



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