MontBleu jobs secure as company emerges from bankruptcy
By Liz Benston, Las Vegas Sun
As the first major casino company set to emerge from bankruptcy in the recession, Tropicana Entertainment offers a beacon of hope for cash-strapped companies in the throes of the worst downturn this industry has ever seen.
Less than two years after its bankruptcy filing, Tropicana Entertainment’s debt has been wiped clean, and the company’s new owner, billionaire Carl Icahn, is injecting $150 million to pay creditors and upgrade properties.
The company is expected to come out of bankruptcy this month. Employees, including those at the MontBleu in Lake Tahoe and the Tropicana and River Palms in Laughlin, can expect to hold onto jobs that were uncertain before and during bankruptcy. (The Tropicana in Las Vegas is not owned by Tropicana Entertainment.)