Rebounding NJ Casino in Line for 5-Year License - ABC News

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New Jersey casino regulators are expected to sign off on the Tropicana Turnaround.

Three years ago, Atlantic City's

Tropicana Casino and Resort was teetering on the edge. It was stripped of its casino license after management laid off 1,000 workers, leaving the casino and its hotel filthy and understaffed.

Now, under the ownership of billionaire Carl Icahn, the Tropicana is rebounding, with cleaner rooms, revenues that are keeping pace with the rest of the struggling gambling resort and an improved image.

On Wednesday morning, the casino is expected to get a new five-year license.

Despite a slump caused by the poor economy and competition from neighboring states, the Tropicana is holding its own and actually improving its market share a bit.

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