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Offline RobJohnson

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Tropicana files for bankruptcy
« on: May 05, 2008, 11:41:14 PM »
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ATLANTIC CITY, N.J. (AP) -- The fallout from losing its New Jersey casino license will force the owner of Tropicana casinos in Atlantic City and Las Vegas to seek Chapter 11 bankruptcy protection, the company said Monday.

Tropicana Entertainment LLC said it plans to continue operating and will keep current staffing levels.

http://money.cnn.com/2008/05/05/news/companies/tropicana_casino.ap/index.htm?section=money_topstories

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Offline rich_t

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Re: Tropicana files for bankruptcy
« Reply #1 on: May 05, 2008, 11:45:15 PM »
Damn....


There goes the economy!
« Last Edit: May 05, 2008, 11:48:01 PM by rich_t »
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Offline Chris_

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Re: Tropicana files for bankruptcy
« Reply #2 on: May 06, 2008, 05:23:52 AM »
I thought this thread was about orange juice.  :bs:
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Offline NHSparky

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Re: Tropicana files for bankruptcy
« Reply #3 on: May 06, 2008, 07:53:20 AM »
Such is life when you take away 60-70 percent of a business' revenue stream.
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #4 on: May 06, 2008, 12:55:57 PM »
Quote from: Chris on May 06, 2008, 05:23:52 AM
I thought this thread was about orange juice.  :bs:

 :-)

I left a few words out in the title......to spark curiosity
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Offline jtyangel

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Re: Tropicana files for bankruptcy
« Reply #5 on: May 06, 2008, 01:07:03 PM »
I'm about to take my children down to visit my dad in a few weeks in Florida and something I've been noticing is that even though the gas prices are up, some other things related to tourism are down like hotel rooms. I'm having to look at that big picture and in it I think I may not go all that much over what I would have spent when gas was a bit lower with the offset in some other things.

Anyway, bad for the hotels, good for me right now.  :-)

Makes me wonder how other casinos and hotel chains are doing.
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #6 on: May 06, 2008, 01:13:24 PM »
Quote from: jtyangel on May 06, 2008, 01:07:03 PM
I'm about to take my children down to visit my dad in a few weeks in Florida and something I've been noticing is that even though the gas prices are up, some other things related to tourism are down like hotel rooms. I'm having to look at that big picture and in it I think I may not go all that much over what I would have spent when gas was a bit lower with the offset in some other things.

Anyway, bad for the hotels, good for me right now.  :-)

Makes me wonder how other casinos and hotel chains are doing.

Vegas is crying right now.....but things are alot better here in Nevada then they were in IL when I left...on top of the fact, that three new projects in Vegas will add over 50,000 new jobs in 2009.

Tropicana's problems started in Atlantic City....and I don't really think the economy had much to do with it....
« Last Edit: May 06, 2008, 01:14:56 PM by RobJohnson »
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Offline jtyangel

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Re: Tropicana files for bankruptcy
« Reply #7 on: May 06, 2008, 01:21:25 PM »
Quote from: RobJohnson on May 06, 2008, 01:13:24 PM
Quote from: jtyangel on May 06, 2008, 01:07:03 PM
I'm about to take my children down to visit my dad in a few weeks in Florida and something I've been noticing is that even though the gas prices are up, some other things related to tourism are down like hotel rooms. I'm having to look at that big picture and in it I think I may not go all that much over what I would have spent when gas was a bit lower with the offset in some other things.

Anyway, bad for the hotels, good for me right now.  :-)

Makes me wonder how other casinos and hotel chains are doing.

Vegas is crying right now.....but things are alot better here in Nevada then they were in IL when I left...on top of the fact, that three new projects in Vegas will add over 50,000 new jobs in 2009.

Tropicana's problems started in Atlantic City....and I don't really think the economy had much to do with it....
good point, Rob. I know a bit about Vegas having lived not so far away in Phoenix. It is its own place that's for sure. I don't doubt the economy is better there...it was that way in Phoenix too compared to here in the midwest where we are now. *sigh* lol

Thanks for this story though. Interesting stuff to watch. I'm still wondering how this summer's travel plans will be affected by gas prices. Mine is only made easier because my mother is coming with us and splitting the gas bill...that makes my prices more in the 1.75 a gallon range since she's footing part of the bill. That I can do.
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #8 on: May 06, 2008, 02:58:37 PM »
Quote from: jtyangel on May 06, 2008, 01:21:25 PM
Quote from: RobJohnson on May 06, 2008, 01:13:24 PM
Quote from: jtyangel on May 06, 2008, 01:07:03 PM
I'm about to take my children down to visit my dad in a few weeks in Florida and something I've been noticing is that even though the gas prices are up, some other things related to tourism are down like hotel rooms. I'm having to look at that big picture and in it I think I may not go all that much over what I would have spent when gas was a bit lower with the offset in some other things.

Anyway, bad for the hotels, good for me right now.  :-)

Makes me wonder how other casinos and hotel chains are doing.

Vegas is crying right now.....but things are alot better here in Nevada then they were in IL when I left...on top of the fact, that three new projects in Vegas will add over 50,000 new jobs in 2009.

Tropicana's problems started in Atlantic City....and I don't really think the economy had much to do with it....
good point, Rob. I know a bit about Vegas having lived not so far away in Phoenix. It is its own place that's for sure. I don't doubt the economy is better there...it was that way in Phoenix too compared to here in the midwest where we are now. *sigh* lol

Thanks for this story though. Interesting stuff to watch. I'm still wondering how this summer's travel plans will be affected by gas prices. Mine is only made easier because my mother is coming with us and splitting the gas bill...that makes my prices more in the 1.75 a gallon range since she's footing part of the bill. That I can do.

I know last summer, pool and sauna stores started to "sell out" in Illinois....everyone was going to take the vacation money, and buy a pool instead...due to the gas prices....

I have family that is about to make a long trip in a car....they hope after this they will simply just let someone watch the cat, and fly from now on....renting or borrowing a car once they arrive at the destination....it's just getting really expensive to drive any long distance....

Maybe you can just use some of that funny DUmmy math, and get your cost down to about a 25 cents a gal.  :lmao:
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Offline Lord Undies

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Re: Tropicana files for bankruptcy
« Reply #9 on: May 06, 2008, 03:00:14 PM »
I told them it was folly to be planting those groves out behind every supermarket.
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #10 on: May 06, 2008, 03:03:25 PM »
Quote from: Lord Undies on May 06, 2008, 03:00:14 PM
I told them it was folly to be planting those groves out behind every supermarket.

LOL  :-)
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Offline Chris_

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Re: Tropicana files for bankruptcy
« Reply #11 on: May 06, 2008, 05:54:14 PM »
Quote from: Lord Undies on May 06, 2008, 03:00:14 PM
I told them it was folly to be planting those groves out behind every supermarket.
Didn't Barry Manilow have a song about this?   :-)
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Offline Chris_

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Re: Tropicana files for bankruptcy
« Reply #12 on: May 06, 2008, 06:28:36 PM »
Quote from: lug-nut on May 06, 2008, 05:54:14 PM
Quote from: Lord Undies on May 06, 2008, 03:00:14 PM
I told them it was folly to be planting those groves out behind every supermarket.
Didn't Barry Manilow have a song about this?   :-)

Yes -- the Tropa Tropicana ("the best OJ that won't kill ya")
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Offline Lacarnut

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Re: Tropicana files for bankruptcy
« Reply #13 on: May 11, 2008, 09:13:28 AM »
One of the casino's here is involved in that bankruptcy. That leaves one standing and another is in the processing of being built. Between the lottery and the casino's, our politicians convinced the stupid public, who voted for them, that this was a pot of gold that would be the salvation to funding and improving education. What a joke that is.
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #14 on: May 11, 2008, 10:30:33 AM »
Quote from: Lacarnut on May 11, 2008, 09:13:28 AM
One of the casino's here is involved in that bankruptcy. That leaves one standing and another is in the processing of being built. Between the lottery and the casino's, our politicians convinced the stupid public, who voted for them, that this was a pot of gold that would be the salvation to funding and improving education. What a joke that is.

Same deal where I used to live in Illinois/Iowa....riverboat gambling.

50,000 manufacturing jobs were replaced with three gambling boats....it's not working out all that well....

Jobs at John Deere, IH, Case and Cat....did a little more for the economy then people blowing their social security checks on the boats...

We own a couple lots in Pass Christian, MS......so I know a little bit about the area there.

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Offline john c calhoun

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Re: Tropicana files for bankruptcy
« Reply #15 on: May 12, 2008, 02:39:05 PM »
the fact that a Casino can actually claim to be an LLC  has got to be THE most laughable thing I've heard in a while... :lmao:

after hearing this, I don't want to hear from anyone about 'big brother' & our government being too invasive etc.etc...etc.

gimme a break....an LLC for a multi billion dollar CASH biz like a casino has got to be breeding grounds for money laundering/tax evasion if I ever saw it... :thatsright:
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Offline RobJohnson

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Re: Tropicana files for bankruptcy
« Reply #16 on: May 12, 2008, 04:24:36 PM »
Quote from: john c calhoun on May 12, 2008, 02:39:05 PM
the fact that a Casino can actually claim to be an LLC  has got to be THE most laughable thing I've heard in a while... :lmao:

after hearing this, I don't want to hear from anyone about 'big brother' & our government being too invasive etc.etc...etc.

gimme a break....an LLC for a multi billion dollar CASH biz like a casino has got to be breeding grounds for money laundering/tax evasion if I ever saw it... :thatsright:

In IL & IA there was a Hotel operator that started up a gambling boat on the Mississippi....he was able to declare bankruptcy on the hotels, and keep the Casino....now he is building a new Casino with a hotel!

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