Tropicana Entertainment LLC has filed voluntary petitions for reorganization under the Chapter 11 bankruptcy code. The petitions list nine of the company’s 11 casino properties, including the Casino Aztar in Evansville, Ind. (The filings do not include The Tropicana Atlantic City Casino & Resort and the Lighthouse Point Casino in Greenville, Miss.) Tropicana officials said the Crestview Hill-based company expects to maintain current staffing levels and will fund the majority of ongoing operations from its own cash flow. The company has also secured $67 million in debtor-in-possession financing that can be used to supplement its working capital. Tropicana Entertainment is an indirect subsidiary of Tropicana Casinos and Resorts. The company has more than 11,000 employees and produces more than $1.2 billion in annual revenues.
Crestview Hills
The Lane Report
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