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Connecticut Tribe May Buy Tropicana

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December 22, 2007

ATLANTIC CITY - Since last summer the Mohegan Tribe of Connecticut has studied Atlantic City for potential opportunities for expanding their successful casino operations. The tribe's Mohegan Sun Casino in Connecticut is earning $1.5 billion in annual revenues.

In July the Mohegan Tribal Gaming Authority invited a delegation of Atlantic County officials to visit Connecticut and discuss the possibility of their acquiring an Atlantic City casino. After months of research the tribe is interested in buying the Tropicana, which is available for sale.

Last week the Tropicana owners announced a one year bank loan for $1.3 billion to keep the company out of bankruptcy until it can sale the Tropicana. State regulators have denied it a gaming license and a trustee for the casino must now identify a new owner.

A spokesman for the Mohegan Tribal Gaming Authority, Jeffrey Hartmann, said he has contacted the chairperson of the New Jersey Casino Control Commission about the casino. "I think our brand is well-established with many of the customers that visit Atlantic City today," Hartmann said. "We like the regulated environment, and I think we can be a good addition to the Atlantic City market."

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