Dozens of casinos have declared bankruptcy and continued to operate. Aladdin in Las Vegas must have declared bankruptcy 2 or 3 times. It means they are asking the courts to hold off creditors while they try to get organized.

However, I think most everybody expects Tropicana Las Vegas to eventually be sold, and it's likely the old building will eventually be demolished. The land is too valuable to continue to run a losing operation that can't compete with the fancy new places being built.