Breaking News: Tropicana Competition - Friday 21st of April 2006

Las Vegas Gaming Wire

LAS VEGAS, Nevada Las Vegas-based Pinnacle Entertainment sweetened its offer for Tropicana parent Aztar Corp. this morning, increasing its bid to $43 a share for the Phoenix-based company. The offer is valued at $2.27 billion.

Aztar also announced that it has amended its previously signed purchase agreement with Pinnacle to increase the purchase price from $38 a share. The offer exceeds Colony Capital's reported $41 a share offer and equals the bid by Ameristar Casinos. However, the bid is still below the $47 a share announced Monday by Columbia Sussex Corp.

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