100xOdds
100xOdds
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Joined: Feb 5, 2012
April 7th, 2018 at 1:05:29 PM permalink
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?
Last edited by: 100xOdds on Apr 7, 2018
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
darkoz
darkoz
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Joined: Dec 22, 2009
April 7th, 2018 at 1:39:48 PM permalink
Quote: 100xOdds

Feb 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
100xOdds
100xOdds
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Joined: Feb 5, 2012
April 7th, 2018 at 1:45:14 PM permalink
Quote: darkoz

I thought borgata was number one. Now they're 3 or worse?

no. borg is still #1 by a HUGE amount. ($800M vs $390M for Trop)
harrahs became #3.

i'll update my OP
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
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