Atlantic City's Tropicana fears bankruptcy

December 14, 2007 9:24:39 AM PST
The Tropicana's parent company is considering filing for bankruptcy.That's if they can't quickly overturn the denial of their casino license or work out a new deal with their lenders.

The Casino Control Commission yesterday declined to renew the Tropicana's operating license after complaints the casino was dirty and service poor.

The casino will remain open under the management of a trustee until it can be sold.

Tropicana Entertainment filed an appeal today.

But a federal judge refused to consider the appeal on an emergency basis, saying the casino must go the normal route.

The casino says they don't have that much time.

In a statement today, the company said it may default on loans and end up in bankruptcy.


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