Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On May 27, 2014, James L. Nelson resigned from the Board of Directors (the
"Board") of Tropicana Entertainment Inc. (the "Company"). Mr. Nelson's
resignation from the Company's Board was not a result of any disagreement with
the Company or the Company's Board.
On May 29, 2014, the Board elected William A. Leidesdorf as a director of the
Company to fill the vacancy created by Mr. Nelson's resignation and named Mr.
Leidesdorf a member of the Company's Audit Committee.
Mr. Leidesdorf has served as a director of Icahn Enterprises GP since March 1991
and is a member of its audit committee. From December 2003 to March 2013, Mr.
Leidesdorf served as a director and member of the audit committee of American
Entertainment Properties Corp., or AEP. From May 2005 until November 2007, Mr.
Leidesdorf served as a director and member of the audit committee of Atlantic
Coast Entertainment Holdings, Inc. Icahn Enterprises GP, AEP, Atlantic Coast
Entertainment Holdings, Inc. and the Company are indirectly controlled by Carl
C. Icahn. Mr. Leidesdorf was a director of Renco Steel Group, Inc. and was a
director, during its bankruptcy, of its subsidiary, WCI Steel, Inc., a steel
producer which filed for Chapter 11 bankruptcy protection in September 2003.
From 1996 through 2002, Mr. Leidesdorf was a director of the Simpson Housing
Limited Partnership, a privately held real estate investment trust. Since
October 2008, Mr. Leidesdorf has been the owner and managing director of
Renaissance Hamptons Mayfair, LLC, a company primarily engaged in acquiring
multifamily residential properties. Previously, from June 1997 through October
2008, Mr. Leidesdorf was an owner and a managing director of Renaissance
Housing, LLC, a company primarily engaged in the acquisition of multifamily
housing, many of which were subject to various federal and state regulatory
requirements. From April 1995 through December 1997, Mr. Leidesdorf acted as an
independent real estate investment banker. Mr. Leidesdorf is also a principal in
Bedrock Investment Management Group, LLC, a company engaged in the acquisition
of troubled residential subdivisions.
There are no arrangements or understandings between Mr. Leidesdorf and any other
persons pursuant to which he was selected as a director and he has no direct or
indirect material interest in any transaction required to be disclosed pursuant
to Item 404(a) of Regulation S-K.