Tropicana Sues Purchaser Over Collapsed Hotel Deal

Law360, New York (September 24, 2008, 12:00 AM EDT) -- Bankrupt casino operator Tropicana Entertainment LLC has filed a breach-of-contract suit against Nevada Gold & Casinos Inc., a company that agreed last year to purchase a Tropicana casino in Mississippi but pulled out of the deal last week.

Tropicana filed the adversary complaint Tuesday as part of its bankruptcy proceedings in U.S. Bankruptcy Court for the District of Delaware. The suit seeks to hold onto the $2 million deposit Nevada Gold made in November for the casino as liquidated damages resulting from the breach of contract....
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