Tropicana Atlantic City granted three-month exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 22 - Tropicana Atlantic City Casino and Resort has been granted an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of New Jersey.

The company's exclusive plan-filing period was extended to March 25 from Dec. 25 and the solicitation period to May 24 from Feb. 23.

According to the motion, Tropicana needs to obtain additional regulatory approvals and waivers before it can close its asset sale. The company expects to secure the approvals and waivers by Jan. 31.

Tropicana is one of the largest casino hotels in Atlantic City. It filed for bankruptcy on April 29, 2009. Its Chapter 11 case number is 09-20711.

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