Statement from Tropicana Entertainment on Aztar Sale

Statement From Tropicana Entertainment, LLC Tropicana Makes Interest Payment on Subordinated Notes Company intends to sell assets to retire outstanding senior debt Crestview Hills, KY, December 17, 2007 - Tropicana Entertainment, LLC said today that that it made its scheduled semi-annual interest payment on its 9 5/8% Senior Subordinated Notes due today and that it is attempting to reach an agreement with its lenders that will allow for an orderly sale of the Tropicana Resort and Casino in Atlantic City and Casino Aztar in Evansville, Indiana. The proceeds from the sales of the two properties, along with those from the sale of the companys casino in Vicksburg, Mississippi, which is under contract with Nevada Gold & Casinos, Inc., are expected to be sufficient to pay Tropicanas outstanding senior debt. Any remaining proceeds will be reinvested in the companys business. The company has engaged an independent investment bank to act as its financial advisor in connection with its continuing negotiations with its lenders to obtain a forbearance with respect to the decision by the New Jersey Casino Control Commission to deny the Companys gaming license renewal application for its Atlantic City casino. "In short order, we have developed a plan to address recent challenges by selling our properties in Atlantic City, Evansville and Vicksburg in an orderly manner, retiring our Senior Credit Facility and positioning ourselves for long-term growth with what we hope will be a stronger balance sheet," said William J. Yung, Chief Executive Officer and President of Tropicana Entertainment. "We intend to continue to work cooperatively with lenders and regulators to implement a plan that will serve the best interests of our debt holders and our company." Tropicana Entertainment, an indirect subsidiary of Tropicana Casinos and Resorts, is one of the largest privately-held gaming entertainment providers in the United States. Additional information can be found on the Companys website at www.tropicanacasinos.com. None of the information contained on the Companys website shall be deemed incorporated by reference or otherwise included herein. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Statement From Office of the Mayor Jonathan Weinzapfel December 17, 2007 For Immediate Release TROPICANA ENTERTAINMENT TO SELL CASINO AZTAR (EVANSVILLE, IN) - Mayor Jonathan Weinzapfel is releasing the following statement in response to Tropicana Entertainments intention to sell Casino Aztar in Evansville, along with its Tropicana Resort and Casino in Atlantic City and its casino in Vicksburg, Mississippi, to pay Tropicanas outstanding debt: "This is great news for Evansville. We very much welcome the opportunity to speak to prospective buyers about establishing a collaborative relationship in Evansville, one that makes sure that the future operator is competitive in the marketplace and works well with the City on mutually beneficial projects."