A consortium of lenders, including billionaire financier Carl C Icahn, has made a $200m bid for the Tropicana Casino and Resort, Atlantic City, US.
The Press of Atlantic City reports that the group has taken the role of the "stalking horse" in the bankruptcy auction, setting the minimum bid for the property.
Gary S Stein, the conservator overseeing the sale, said the process is now "moving forward" following the agreement with Icahn’s group.
"It is my expectation that this stalking horse bid will generate substantial interest from multiple bidders, leading to a robust auction that achieves the highest price possible in light of current conditions in the gaming industry," he said.
