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Tropicana suitors line-up16 January 2008ATLANTIC CITY, New Jersey -- As reported by the New Jersey Courier-Post: "The bidding for Atlantic City's Tropicana Casino and Resort officially began when Colony Capital LLC, parent company of the Atlantic City Hilton and Resorts Atlantic City, recently offered $850 million for the casino-hotel complex that must, by state mandate, be sold by its former operator, Kentucky-based Columbia Sussex. "Published reports suggest that some two dozen potential bidders are in the mix; to date, only a handful have been identified by industry speculation. "...Gomes + Cordish Gaming Management LLC: Logic suggests this teaming of veteran Atlantic City gaming executive Dennis Gomes and Baltimore-based commercial developer Cordish Co. (Baltimore's Inner Harbor) should be the winning exacta. "...Colony Capital LLC: Its bid came out of the blue; it was on no one's radar before it tendered its offer. But a veteran management team and its parent company's resources suggest the company should be taken seriously. "...Mohegan Sun: Don't bet against the American Indian tribe whose Connecticut property is a top-shelf operation, and whose Wilkes-Barre, Pa. slots parlor is number-one on the East Coast in per-machine revenue. "...Steve Wynn: Wynn's desire to return to town is no secret. But he single-handedly created the modern gaming industry by building jaw-dropping mega-resorts. Should he win the bidding, there's no question he'd raze the Trop and build an uberproperty. "...Pinnacle Entertainment Inc: May have disqualified itself when it bought, and subsequently demolished, the Sands in preparation of creating a planned $1.5 billion hotel-casino..." |