ATLANTIC CITY, N.J. -- New Jersey regulators approved a plan Wednesday for the former corporate parent of Atlantic City's bankrupt Tropicana Casino and Resort to operate the business again as a reorganized company owned by a group of investors led by billionaire Carl Icahn.
The state Casino Control Commission revoked Tropicana Entertainment LLC's casino license in December 2007 after finding that cost-cutting by its former owner, William J. Yung III, left the casino understaffed and dirty.
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