was run out of town by New Jersey regulators who determined the Kentucky-based company was incapable of running the type of first-class casino resort required by state law. It's a far cry from 2007, when former owner Columbia Sussex Corp. Older areas of the casino floor have been redone, as has the Tropicana's north tower of 434 hotel rooms, and an open-to-the-public fitness center is part of the plan, as well. Its most striking feature will be an outdoor light show on the facade that will be visible for miles. Current owner Carl Icahn has invested $130 million in it since taking over in 2010, including a far-reaching $50 million renovation due to be completed by Memorial Day weekend. Its former owner cut staff to the bone and let the sprawling complex deteriorate so badly that New Jersey gambling regulators stripped it of its casino license.īut now, the Tropicana has rebounded to become one of Atlantic City's more profitable casinos.
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