Tropicana Entertainment To Announce Bankruptcy Soon: Reports
Kentucky-based Tropicana, which has annual sales of around $1 billion and 11,000 employees, missed an interest payment Friday on a $1.32 billion loan with lender Credit Suisse. Missing the payment terminates a forebearance agreement it had with bondholders, putting pressure on the gaming company. A Tropicana spokesperson declined to comment. According to the story, Tropicana has been stumbling since late last year, when New Jersey regulators stripped the company of its gambling license to operate a Tropicana casino in Atlantic City.
Sources:
- blogs.wsj.com
- www.chattershmatter.com
- www.dollardrops.com
- feeds.foxbusiness.com
- www.leonalewis.hi7.org
- www.phillyburbs.com
Tags: 1 billion, bondholders, credit suisse, forebearance agreement, gaming company, interest payment, jersey regulators, spokesperson, tropicana bankruptcy, tropicana casino in atlantic city, tropicana entertainment