Tropicana's Owner Ready to Jump-Start Expansion

ATLANTIC CITY, NJ-If things had gone as originally planned, Phoenix-based Aztar Corp. would already be two months into construction on a $225-million expansion program at its Tropicana Casino/Hotel here. But late last year, the start of construction was put off indefinitely.

At the time, the speculation was that economic and post-9/11 factors were the culprits. Aztar officials had a different explanation: The expansion was expected to be completed by the summer of 2003. That’s the same time frame in which Boyd Gaming and MGM Mirage expect to open their massive $1 billion Borgata casino/resort property nearby, and Aztar officials say they didn’t want the two behemoths opening at the same time.

Now, however, Aztar has set a new date to start construction. In a conference call late last week that was supposed to focus on fourth quarter earnings, Aztar chairman/CEO Paul Rubeli announced that construction is now scheduled to start on or about May 1. The revised schedule would put completion on track for late 2003 or early 2004.