IS IT TRUE? July 16, 2011 “Who Owns Aztar”

IS IT TRUE? July 16, 2011

IS IT TRUE that the question has been bantered about for the past few days about just who owns Aztar?…that there has even been a rumor put forth that Mayor Weinzapfel’s old nemesis William Yung III may be the money behind some of the proposals being put together in response to the RFP to build a new Convention Hotel where the ROCK PILE is?…that there has even been speculation that Mr. Yung may be doing this to have a full blown monopoly on hotel rooms in downtown Evansville?…that the only way for that to have any legs is for Mr. Yung and his company Columbia Sussex to still own the Aztar Complex?…that we then embarked upon a mission to find out just exactly who owns Aztar?

IS IT TRUE that our search led us to a company that is named Tropicana Entertainment Inc. that is headquartered in Las Vegas, Nevada?…that this business also owns casino complexes in Louisiana, New Jersey, Nevada, Louisiana, Mississippi, and Aruba?…that on March 31, 2011 that Tropicana Entertainment Inc. filed a Form 10-Q with the United States Securities and Exchange Commission which is a quarterly report required under the Securities and Exchange Act of 1934?…that Tropicana Entertainment Inc. is a Delaware corporation with its federal employer ID # 27-0540158?…that TEI was formed on May 11, 2009 to essentially acquire and consolidate the operations of a host of businesses that were the subjects of litigation?…that buried in one of those business was Evansville’s Casino Aztar?…that Carl C. Icahn, Chairman of our Board of Directors, became the beneficial owner of approximately 47.5% of the Company’s Common Stock. Subsequent to March 8, 2010, Mr. Icahn increased his ownership and on November 15, 2010, affiliates of Carl C. Icahn became the beneficial owners of approximately 51.5% of the Company’s Common Stock?

IS IT TRUE that this 10-Q is a very detailed document that we have scanned for the names William Yung III and Columbia Sussex?…that neither name showed up in the 10-Q?…that we therefore conclude that Mr. Yung no longer holds a controlling interest in Evansville’s Casino Aztar?…that the name of the man who does own a controlling interest in the Aztar Complex is none other than that legendary financier and sometimes corporate raider Carl Celian Icahn?…that as of March 31, 2011, funds managed by Carl Icahn at Icahn Capital Management were valued at $6.24 billion?

IS IT TRUE that this is the kind of person that we should welcome to Evansville?…that if Mr. Icahn were to take an interest in Evansville’s potential as a incubator of commercial success that our much publicized vacuum of venture capital could be solved immediately?…that while it is fun and games for some people to demonize the rich that it is only the rich and super rich that have the capacity to put together the kind of investment funds needed to fuel the dreams and successes of entrepreneurs?…that this is one area of our economy where the judgment of governments is neither wanted nor needed?

IS IT TRUE that the rumor mongering about Mr. William Yung III being the money behind some proposal to build a hotel does indeed have some very small probability for truth?…that Mr. Yung and Columbia Sussex do indeed own and operate a large portfolio of hotel properties of the 3-Star and above type?…that they are familiar with the Evansville market and are only headquartered about 3 hours away?…that stranger things have happened in this whole Executive Inn Dilemma?…that we shall all know the sources of the funding IF and only IF our esteemed Evansville Redevelopment Commission and our Evansville City Council puts together a competent VETTING procedure and a team of people that actually have the ability to follow that procedure without letting politics corrupt the VETTING PROCESS?

A link to the entire 10-Q of Tropicana Entertainment Inc.

http://www.sec.gov/Archives/edgar/data/1476246/000104746911004644/a2203844z10-q.htm