Tropicana Sale Deadline Extended (Again)
The deadline for the state of New Jersey to decide who gets the Tropicana A.C. has come and gone (again) with a new decision day set for April 30th.
The NJCCC is currently fielding bets from Carl Icahn, who is also holding $1.5B of bad debt in Tropicana Casino Resorts bankruptcy case.
CityBoom reader vzboyle left an interesting comment here which quotes a scenario in which the amalgamated Sands properties (collectively, Pinnacle Atlantic City) would revert back to Icahn's control should PNK officially abandon ship. I wouldn't expect Icahn to build anything on the Sands/PAC site, design & development isn't his schtick.
One thing is for sure, this is a buyers market if ever there was one... should buyers have ample liquidity of course. Perhaps if we had a bake sale...
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