Aztar Corporation was a hospitality company based in Phoenix , Arizona , focused on resort hotels and casinos . In 2005, the company had revenues of more than $ 915 million and earnings before interest and taxes of $ 212 million. During 2006 the company became the subject of a bidding war for ownership, with Columbia Sussex winning.
13-481: Casino Aztar may refer to either of two casinos originally opened by the Aztar Corporation : Casino Aztar Caruthersville, now Century Casino Caruthersville — Caruthersville, Missouri Casino Aztar Evansville, now Bally's Evansville — Evansville, Indiana Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
26-592: A portmanteau of "Aztec" and "star". In 1995, the new Aztar Corporation expanded its operations to include riverboat casinos in Caruthersville, Missouri and Evansville, Indiana . On March 5, 2002 Aztar acquired full ownership of the 34-acre (140,000 m ) Tropicana location in Las Vegas by purchasing the 50% share held by Chicago's Jaffe family. During 2005, the company acquired a site in Allentown, Pennsylvania with
39-585: A gaming license for the Tropicana Atlantic City, sending the company's gaming businesses into bankruptcy. Most of the Aztar properties became part of the reorganized Tropicana Entertainment Inc. in March 2010. New Jersey Casino Control Commission The Casino Control Commission is a New Jersey state governmental agency that was founded in 1977 as the state's Gaming Control Board , responsible under
52-443: A share, all in cash. Aztar management determined on May 1 that the latest bid was preferred over Pinnacle's late increase to $ 48 a share, in cash and stock. On May 4, 2006, Ameristar announced that it was pulling out of the bidding for Aztar. Additionally, Colony apparently lost interest, having failed to increase its bid beyond $ 41 a share and making no public comment for several weeks. Since Columbia Sussex eventually outbid Pinnacle,
65-704: Is appointed by the Governor to also serve as a member of the Casino Reinvestment Development Authority (CRDA). A second commissioner may be appointed by the Governor to serve as a member of the CRDA in lieu of the commissioner of the Department of Commerce and Economic Development or the Department of Community Affairs . Since December 26, 2017, James T. Plousis is the eighth chairman of the Commission. He
78-514: The Governor of New Jersey with advice and consent of the New Jersey Senate . The number of commissioners was reduced from five on January 17, 2012. Commissioners serve staggered, five-year terms and can only be removed for cause. By law, no more than two commissioners can be of the same political party, a requirement that is intended to ensure political balance on the panel. One commissioner
91-738: The Casino Control Act for licensing casinos in Atlantic City . The commission also issues licenses for casino key employees and hears appeals from decisions of the New Jersey Division of Gaming Enforcement . The commission is headquartered in the Arcade Building at Tennessee Avenue and Boardwalk in Atlantic City. On November 15, 2010, State Senators Jim Whelan (D-2nd) and Raymond Lesniak (D-20th) introduced Senate Bill S12 to change
104-710: The New Jersey Casino Control Act and deregulate the Atlantic City casino industry to improve competitiveness with casinos in other states. The bill would also transfer day-to-day regulatory functions from the Casino Control Commission to the Division of Gaming Enforcement. After hearings in both houses of the Legislature, the bill was approved on January 10, 2011, and signed into law by Governor Chris Christie on February 1, 2011. The new law eliminated
117-526: The intention of securing a gaming license and then developing a casino. On March 13, 2006, Aztar announced plans to be acquired by Pinnacle Entertainment for $ 2.1 billion. Subsequent bids were made by Colony Capital, LLC , Columbia Sussex and Ameristar Casinos . As of April 26, 2006, all four companies were engaged in bidding over Aztar, with Pinnacle increased its bid to $ 45 per share, matching Ameristar's bid; Columbia Sussex had previously bid $ 47 per share. Later, Columbia Sussex increased its bid to $ 50
130-554: The latter company was paid a $ 50 million termination fee plus expenses, which may total $ 16 million. Bidding ended on May 19, 2006 with the acceptance of a $ 2.75 billion bid from Columbia Sussex. Columbia Sussex paid a $ 313 million breakup fee in advance, in case the deal fell through with $ 78 million of that used to pay the breakup fee to Pinnacle Entertainment. The sale closed in January 2007. The New Jersey Casino Control Commission ultimately rejected Columbia Sussex's application for
143-424: The requirement for the commission to have inspectors in casinos around-the-clock and made the Division of Gaming Enforcement responsible for certifying gaming revenue. The Division of Gaming Enforcement also took over responsibility for registering casino employees and non-gaming vendors, licensing gaming vendors, and handling all patron complaints. The Casino Control Commission consists of three members appointed by
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#1732870028396156-466: The title Casino Aztar . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Casino_Aztar&oldid=1049814421 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Aztar Corporation Aztar
169-563: Was formed in 1989 as part of a restructuring of Ramada Inn, Inc. Ramada's gaming businesses, including the Tropicana Atlantic City and the Tropicana Las Vegas , were spun off as Aztar Corporation, which was given to Ramada's shareholders, while Ramada's restaurant and non-gaming hotel businesses remained with the original company, which was immediately acquired by Hong Kong-based New World Development . Aztar took its name as
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