Aztar Corp. surely feels like the prettiest girl on
the block as several different companies vie to buy the companies stock, who for
the record, owns the renowned Tropicana Casino.. The most promising of the
offers was made last Monday for the impressive amount of forty-seven dollars a
share by the privately owned company Columbia Sussex, which already owns a large
number of hotels and casinos, including the Westin in Las Vegas.
Another promising offer was made by the company,
Ameristar Casinos Inc., which has been raised to the amount of forty-five
dollars per share on Friday. But there are still at least three other offers
that Aztar will need to consider before it makes it's final decision on who it
will decide to sell its very coveted piece of Las Vegas Strip land to.
The company now owns the Tropicana Casino and Hotel
in both Las Vegas and Atlantic City and also casinos in Missouri and Indiana.
But the most attractive feature by far of this companies portfolio is its
ownership of thirty-four acres of prime Las Vegas strip real estate. Currently,
the property is being occupied by the aging Tropicana Hotel and Casino that has
been around since 1957. It is essentially one of the last spots on the strip
that is available for complete casino development that has a nearly one-hundred
percent chance of succeeding, given its location.