Casino operator files for bankruptcy

Casino operator Tropicana Entertainment LLC, which runs casinos throughout the US, has filed for bankruptcy protection.

Tropicana, which runs the famous Tropicana casino in Las Vegas, says that despite the filing, business will continue as normal as its casino and resort properties “are more than adequately financed”.

The company will fund those operations with its own cash and $67 million in debtor-in-possession financing for Silver Point Finance.

"The period ahead is an opportunity to work with all of our constituents to address our debt issues and reorganize our business so that we can optimize the value of the company's assets," said President Scott Butera in a statement on Monday.

Editor, - 2008-05-06 11:17:55

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