Three’s a Crowd
Author: Diana Heeb Bivona
Tropicana Casino owner, Aztar Corporation, is one popular company. Today, it was announced that a third potential suitor for ownership has thrown their towel into the ring. Ameristar Casinos Inc. offered to buy Aztar Corp. for about $1.51 billion.
The offer values Aztar at $42 a share, 2.4% more than Colony Capital LLC’s bid on March 31 and 11% more than Pinnacle Entertainment Corp.’s March 13 offer. The purchase of Aztar would transform all three suitors from small, regional operators into larger players in the two biggest gaming markets in the U.S.