Tropicana Entertainment has expressed doubts about The Cordish Company's offer to buy the Tropicana Casino and Resort in Atlantic City, US.
Tropicana issued a statement contesting the terms that were revealed by conservator Justice Gary Stein about Cordish’s expression of interest in buying the casino.
Part of the statement said: “We commend Justice Gary Stein for disclosing some of the terms under which The Cordish Company proposes to purchase the Tropicana Casino and Resort in Atlantic City, New Jersey. We do feel strongly, however, that the public interest is best served by full disclosure. So we again urge Justice Stein to act in a spirit of transparency and openness and release the entire text of Cordish\‘s expression of interest.
“We continue to have grave concerns about the credibility and financial viability of the terms itemised in the Justice\‘s update. The disclosure does nothing to allay our worst fears about the fire-sale nature of the current process. In fact, the partial disclosure of terms raises many red flags and leaves many questions unanswered.”
