Las Vegas Sun

November 10, 2009

Currently: 64° | Complete forecast | Log in

Tropicana buyout closes

Tuesday, March 5, 2002 | 10:34 a.m.

Aztar Corp. of Phoenix announced today it has completed the buyout of its 50 percent partner in the Tropicana hotel-casino on the Las Vegas Strip.

Aztar paid the Jaffe family of Chicago $117.5 million for the 50 percent of the Tropicana it did not already own. The company also assumed $49 million in debt held by the partnership between Aztar and the family.

Aztar re-emphasized this morning that it has no immediate plans to close, demolish and redevelop the south Strip casino, though it said it plans to complete a design development and review process by the summer of 2003. The company said it will make a decision at that time whether to proceed with a new development.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 10 Tue
  • 11 Wed
  • 12 Thu
  • 13 Fri
  • 14 Sat

All events on Tuesday »