He will have rights in New Jersey and other areas
Carl Icahn settles trademark lawsuit over name ‘Tropicana’
2011-08-23
Reading time 41 seg
(US).- Carl Icahn and the Tropicana Las Vegas hotel and casino settled a trademark lawsuit over the right to the name Tropicana with each allowed to use it depending on the location. The accord between the owner of the hotel and several Icahn companies needs approval by the US Bankruptcy Court in Delawaret. The action arose out of the hotel’s Chapter 11 case.
Icahn, the billionaire investor whose companies include Tropicana Entertainment, operates the Tropicana Casino & Resort in Atlantic City, New Jersey. Under the terms of the settlement, Tropicana Las Vegas will have rights to the name in Las Vegas within 50 miles of the casino. Icahn will have rights in New Jersey and other areas.
Tropicana Entertainment, the Las Vegas hotel operator, filed for Chapter 11 creditor protection in May 2008. Two plans of reorganization were filed and approved by the bankruptcy court. Each group filing a plan claimed trademark rights.
Ramada of Nevada is listed along with Tropicana Las Vegas as a defendant in the suit.
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