A consortium of investors, including billionaire Carl Icahn has reportedly won an auction for the Tropicana Casino in Atlantic City, New Jersey.
Attorney Sean Mack, who represents the trustee appointed to run the property, told Bloomberg that the investors chose to write-off $200m they were owed by the casino’s parent company in exchange for the property. No other bids were received for the property.
The casino will remain under the control of the trustee until the new investors are granted a licence by the Casino Control Commission.
