Tropicana Entertainment released a statement on Monday outlining its concerns with a recent offer by the Cordish Company to buy the Tropicana Casino & Resort in Atlantic City.
In the prepared statement the company said it has “grave concerns” about the terms Cordish proposed, which were disclosed early this week.
“There does not appear to be a formal ‘offer’ to buy the casino, but rather an expression of interest that is being used to see if the conservator is desperate enough to accept a ‘low-ball’ bid,” the statement pointed out as one of the red flags.