I think Carl Icahn will do just that. Sure, he has bought distressed casino properties at bargain prices, but he doesn't just sit on them and wait for their value to increase. The Stratosphere is a prime example. He sunk about $1 billion into the place, finishing the second tower which added 1000 rooms to their room inventory, and kept the room rates very low. He also kept the casino very gambler-friendly with reasonable table game odds and slot and video poker payouts that were much better than most strip casinos. I see Icahn's acquisition of the AC Tropicana as a positive thing for Atlantic City.
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