New Resort May Replace Tropicana
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Aztar Corp. has spelled out detailed plans for a $1.2-billion hotel-casino to replace its aging Tropicana resort on the Las Vegas Strip but said costs might impede its decision to go ahead.
The company said it had almost finished plans for a 2,725-room resort at the southeast corner of Las Vegas Boulevard and Tropicana Avenue.
“We are eager to proceed with the project,” Aztar Chief Executive Bob Haddock said Wednesday. “But ultimately, the determinant in that decision will be the final outcome of construction price negotiations.”
The design would include a 100,000-square-foot casino, a four-acre rooftop pool and recreation deck and 200,000 square feet of dining, entertainment and retail space.
The Phoenix-based company reported that its fourth-quarter net profit jumped to $11.2 million, or 29 cents a share, from $2.3 million, or 5 cents, a year earlier. Revenue rose 18.7% to $222.8 million from $187.7 million.
Shares of Aztar fell $1.92 on Thursday to $30.13.
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