Icahn is All In at the Tropicana Casino

May 13th, 2009
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Carl Icahn is positioned to control a large portion of the assets of Tropicana Entertainment Company after a court has approved its plan to emerge from bankruptcy. According to an article from the New York Times' DealBook, Mr. Icahn’s firm will be providing $150 million in exit financing, which will further increase his ownership stake in the emerging entities. It is suspected that Icahn will take control of most of the company’s casinos and assets outside of Las Vegas, while another creditor group will gain control of the flagship Tropicana resort in Las Vegas.
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For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Related People: Alexander J. Denner; Brett Icahn; Carl Icahn; Keith A. Meister*
Related Entities: High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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