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Trouble on the Las Vegas Strip: Tropicana Files For Bankruptcy

Wednesday, May 7th, 2008 by admin

bankruptcy, casino, tropicana

One of the icons of the Las Vegas Strip is in big trouble. The owner of Tropicana casinos in Atlantic City and Las Vegas has filed for Chapter 11 bankruptcy protection. It’s been a rough year for the Tropicana, in December the New Jersey Casino Control Commission said that the company wasn’t capable of running the operation in accordance with state law and the Tropicana in Atlantic City lost its license. That decision led to a funding crisis which eventually led to the bankruptcy filing. The company has reported assets of $2.8 billion and liabilities of $3.3 billion. Tropicana Entertainment has said it will keep their properties running throughout the country and Scott C. Butera, the company’s president, has urged people to continue to patronize Tropicana’s properties which include The Tropicana Casino & Resort in Las Vegas; Bayou Caddy’s Jubilee Casino in Greenville, Miss.; Casino Aztar in Evansville, Ind.; Horizon Casino Hotel in Vicksburg, Miss.; Horizon Casino Resort and the MontBleu Resort Casino & Spa, both in Lake Tahoe, Nev.; the Tropicana Express Hotel & Casino in Laughlin, Nev.; River Palms Resort & Casino in Laughlin, Nev.; and the Sheraton Hotel and Belle of Baton Rogue Casino in Baton Rouge, La.

The Tropicana in Atlantic City isn’t part of the filing because it has to be sold by a state-appointed conservator which was mandated when the former owners lost their license in December. The company will get the money from that sale but it’s not the best time to be selling real estate and so the price may be lower than would usually be expected. The company may also sell other properties as the restructuring process continues. The Las Vegas casino is the property with the most value, it occupies a nice chunk of prime Strip real estate. I’m sure developers will eagerly snap it up if the Tropicana is unable to save itself.

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The $60,000 Ice Cream Sundae

Sunday, April 27th, 2008 by admin

e cream, sundae, three twins, ThreeTwins

Believe it or not, there’s actually an ice cream dessert more expensive than the $25,000 Frrozen Haute Chocolate from Serendipity3. YumSugar recently reported that Three Twins Ice Cream offers two ridiculously expensive ice cream options. Their expensive sundae costs $3,333.33 and is a banana split drizzled with syrups made from three rare dessert wines including a 1960s vintage Port, a Château d’Yquem and a German Trockenbeerenauslese and with a spoon from the 1850s. The company also donates one third, $1,111.11, from the sale of each sundae to the Napa Land Trust.

But what’s really impressive is the $60,000 “World’s More Expensive Most Expensive Ice Cream Sundae.” If you buy this you get to travel to the summit of Mount Kilimanjaro where Three Twins Ice Cream founder will handchurn a batch of ice cream using the glacial ice found at the summit. The mountain’s glaciers are expected to disappear in 10 to 15 years and the purchase will bring awareness to climate change (the company will also make a five figure donation to an African environmental nonprofit.) The cost includes first class airfare to Tanzania, five-star accommodations, a guided climb, an organic T-shirt and all the ice cream you can eat.

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