Tag Archives: Alex Yemenidjian

Stealthy Server Hands Wayne Newton Legal Papers in Las Vegas

Mr. Las Vegas is good, but apparently doesn’t have the skill set to be as sly as a fox.  On Saturday, Newton, who has avoided several process serving attempts in the past, including a convoy of moving vans showing up at his home to claim property to pay alleged debts {previously reported by Las Vegas Backstage Access}, this time was not lucky.  

The legal serving company, reportedly, came up with a novel way to get their foot in the door during Newton’s show at the Tropicana. The process server paid $149.99 for the VIP package to gain entrance to a meet-and-greet session.  He just patiently waited in line to schmooze with Newton, finally greeting him with the words, “Mr. Newton, Las Vegas love you.”  With 20 or so applauding, the process server said, “You are served!” and handed Newton the legal documents, then raced out of the casino, with security guards in hot purist.  They raced through the halls but didn’t catch him. 

Today, Newton’s publicist, Trish McCrone – like any good publicist – is disavowing the incident occurred, merely saying Newton never saw the legal writ or has any idea what it is, saying she thought it just something to autograph. 

The serving company was carry out the clandestine mission on behalf of O. Burton Smith, whose wide-ranging empire of NASCAR tracks includes the Las Vegas Motor Speedway.    Smith contends that Newton is delinquent on a $3.35 million loan and, not receiving payment, then filed suit Feb. 9 in Clark County District Court against Newton, his wife, Kathleen McCrone Newton, their company, Desert Eagle LLC and Newton’s Living Trust. 

Smith seeks immediate foreclosure on the Newton’s 38-acre Casa de Shenandoah ranch in Las Vegas, which the Newtons had put up as a guarantee, alone with their Fokker F28 MK 1000 private jet. 

While unsavory situations on many fronts continue to haunt Newton, he may also soon lose his Las Vegas gig at the Tropicana.   

Jack Wishna, who handled the Tropicana contract for Newton, has confirmed the show, “Once Before I Go,” ends April 24, barring any extension by Alex Yemenidjian, chairman of the Tropicana and godfather of Newton’s daughter, Lauren, who turns eight next month. 

Yemenidjian has previously announced he has plans for a new Tropicana showroom.

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Big Changes Coming to Tropicana in Las Vegas

The Tropicana’s new ownership group, headed up by former MGM Grand Inc. President and Chief Operating Officer Alex Yemenidjian, plans to spend more than $100 million in the next year to ‘”transform the Tropicana to pre-eminence,” says Yemenidjian. 

The new owners, Tropicana Las Vegas Inc., plan to remodel the hotel’s 1,876 rooms, the casino floor, two new restaurants and center bar, the showroom, convention center and the pool areas with a South Beach Miami theme.  

A new sports book, poker room, and replacing the casino’s slot machines and table games are other planned changes.  

Pedestrian bridges from Excalibur and MGM Grand to the Tropicana are also planning to be extended. 

The changes will be introduced with new marketing and entertainment programs. 

The new owners plant to take over the Tropicana’s nongaming opertions July 1, pending Armenco Holding’s approval by the Nevada Gaming Commission, which meets June 18.

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Onex to take Control of Tropicana in Las Vegas

Onex Corporation has acquired some of Tropicana Entertainment LLC’s debt at a discounted rate, which will give the private equity firm control of the company’s prized Las Vegas Strip property after it emerges from bankruptcy. Tropicana

Tropicana’s reorganization plan, which was approved by a Delaware bankruptcy court earlier this month, eliminates more than $2.4 billion in debt and more than $125 million in annual interest payments from the books. 

Onex leveraged Tropicana’s depressed economic condition and bought more than $200 million of the privately held company’s $440 million term loan, which is secured by the 51-year-old Tropicana Resort & Casino. Toronto-based Onex will pay for the debt with a credit agreement specifically set up for the purchases, according to a recent securities filing.

Onex partner and former MGM Mirage President Alex Yemenidjian will become chief executive of the Las Vegas casino under terms of Tropicana’s restructuring plan. 

Tropicana Resort & Casino rests on 34 acres in Las Vegas and includes more than 1,850 hotel rooms, a casino of about 61,000 square feet, five restaurants and an 850-seat showroom. 

Tropicana Entertainment’s reorganization also includes an exit financing commitment from Icahn Capital, a company owned by billionaire investor Carl Icahn.  Icahn has been interested in the company’s Atlantic City, N.J., casino, which will be sold in a bankruptcy court auction.

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