THE TROPICANA NEEDS A SERIOUS GROUP - IT'S A WAY TO SUCCESS

Implications: It would be evident that by offering of an additional $100 million for the opportunity to purchase the suffering Tropicana in Atlantic City is a rather large jump. It's is just what the property needs. There must be a serious buyer involved to take this property out of gutter and back to where it belongs.

Analysis: We are fairly sure that even though there has been two rather substantial bids for the Tropicana the players have not all come out of the wood work. It seems that Joseph Palladino, who has offered this new bid, is an unknown to the casino industry. Though, that in itself, should not put any dampers on his groups plans to purchase the Tropicana. There are many factors that this group will face and the main one would be, can they align themselves with the very best casino management people to handle the day to day business. I am sure that after the fiasco that was the Tropicana under Columbia Sussex - the New Jersey Commission will be very critical on who is running this casino. Having said that, It's my feel that Mr Palladino is quite aware of that fact and would seek out the best available people.

To be sure, It's my opinion that we have not heard the last of the bidding for this property. It will surly be a nice boost for Columbia Sussex to get all or most of their investment back from a quick sale of the property. I am not sure if this will allow them to place the proper emphasis on running their other existing casino properties. The Nevada Gaming Commission is still giving C.S. a very strong second look. To this point, they have not found any serious violations of their license. The Las Vegas Tropicana has also dropped off the map of places to go for many tourists and especially old line customers. Their rooms, food and beverage and customer service has declined. They have gone through a number of management changes since Columbia Sussex has taken ownership.

I hope that this company has seen the light after the loss of the license in New Jersey. Neither I, nor anyone else wants to see them go down the drain. The top honcho needs take lessons in listening to those who have the experience in running a top notch property. He evidently has very little clue himself. I have my fingers crossed....