ordish Co., a casino, hotel and retail developer acclaimed for revitalizing Baltimore's Inner Harbor, has offered us$ 450 million in cash and us$ 250 million in notes as part of a us$ 700 million bid. However, the company has also offered an all-cash bid of us$ 575 million as an alternative.
The terms were made public by Tropicana conservator Gary S. Stein in response to media inquiries and a demand by the casino's former owner for more details about the Cordish proposal. Stein also disclosed that Cordish would spend an extra us$ 100 million to refurbish parts of Tropicana.
Tropicana Entertainment is trying to regain control of the casino, arguing that it has undergone a dramatic management and corporate restructuring in recent months.