The bankruptcy was
first reported on
the Wall Street
Journal's Web site
and then confirmed
by Tropicana's
president, Scott
Butera, in an
interview with the
Associated Press.
Last Friday,
Tropicana told the
Securities and
Exchange Commission
that it received a
default notice from
Credit Suisse on a
$1.32 billion loan.
Tropicana, which
owns the Tropicana
casino in Las Vegas
as well as other
properties, has been
in trouble for
months because of
massive debts
incurred in a $2
billion takeover in
2006.
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