Carl Icahn profit from Tropicana?
April 7th, 2018 at 1:05:29 PM
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Feb 2018- Tropicana becomes #2 and bumps Harrah's down to #3 in terms of revenue in AC for 2017:
https://wtop.com/consumer-news/2018/02/once-near-death-tropicana-now-no-2-casino-in-atlantic-city/slide/1/
10years ago, Tropicana was near death.
Carl Icahn bought it for $200M at bankruptcy and has spent $200M more in upgrades in the past 5years.
so he has invested at least $400M and probably more since it's very likely he spent $ for improvements in the 1st 5 years as well.
But being #2 in revenue means nothing if there's no profit.
Anyone know how much profit he's made in the 10years he's owned the casino?
want to see if other struggling casinos can turn themselves around by copying what Icahn did?
https://wtop.com/consumer-news/2018/02/once-near-death-tropicana-now-no-2-casino-in-atlantic-city/slide/1/
10years ago, Tropicana was near death.
Carl Icahn bought it for $200M at bankruptcy and has spent $200M more in upgrades in the past 5years.
so he has invested at least $400M and probably more since it's very likely he spent $ for improvements in the 1st 5 years as well.
But being #2 in revenue means nothing if there's no profit.
Anyone know how much profit he's made in the 10years he's owned the casino?
want to see if other struggling casinos can turn themselves around by copying what Icahn did?
Last edited by: 100xOdds on Apr 7, 2018
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
April 7th, 2018 at 1:39:48 PM
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Quote: 100xOddsFeb 2018- Tropicana surpasses Harrah's to become #2 AC casino in terms of revenue for 2017:
https://wtop.com/consumer-news/2018/02/once-near-death-tropicana-now-no-2-casino-in-atlantic-city/slide/1/
10years ago, it was near death.
Carl Icahn bought it for $200M at bankruptcy and has spent $200M more in upgrades in the past 5years.
so he has invested at least $400M and probably more since it's very likely he spent $ for improvements in the 1st 5 years as well.
But being #2 in revenue means nothing if there's no profit.
Anyone know how much profit he's made in the 10years he's owned the casino?
I thought borgata was number one. Now they're 3 or worse?
For Whom the bus tolls; The bus tolls for thee
April 7th, 2018 at 1:45:14 PM
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no. borg is still #1 by a HUGE amount. ($800M vs $390M for Trop)Quote: darkozI thought borgata was number one. Now they're 3 or worse?
harrahs became #3.
i'll update my OP
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
