A group led by billionaire investor Carl Icahn is offering $ 200 million to buy Tropicana Casino and resort in Atlantic City . The low ball offer shows just how steep a toll the recession has taken on the economy and the casino business in particular , ayear ago , the Tropicana was expected to fetch $ 1 billion .
Icahn's offer sets the minimum price for the Tropicana in abankrupcy court auction expected tp be authorized by state casino regulators within two weeks .
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