PHOENIX -- Aztar Corp., a casino company whose operations include TropWorld in Atlantic City and the Tropicana in Las Vegas, said it has obtained a $40 million syndicated bank loan.

First Interstate Bank of Nevada is agent bank, with Midlantic National Bank of New Jersey and Daiwa Bank Ltd. of Japan. The financing agreement provides that additional lenders may commit $10 million more.

The loan will contribute to a $75 million expansion of Aztar's Ramada Express Hotel Casino in Laughlin, Nev. which will include a 1,095-room hotel tower and additional casino space.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.