As expected, a group of investors - including debt holders - led by Carl Icahn have essentially won the Tropicana Atlantic City auction for the Buy It Now, Bankrupt, As Is price of $200M bucks.
No word yet on whether the property will be rebranded as Tropicahna. Chances are it will have a similar fate as the Sands AC... wallow until sold to a starry eyed developer.
The big loser here is Columbia Sussex. Between their delinquent operations and the economic downturn, they got screwed a hard ten ways till Sunday. Ouch.
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