William J. Yung III

"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," William J. Yung III, the company's president and CEO, said in a prepared statement Monday.

I learned that Columbia Sussex, founded in 1972, is privately owned by William Yung III and his family.
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Yung said Fred Buro, who was the chief marketing officer for Columbia Entertainment, made him take a trip to see the changes that had occurred in the Atlantic City casino industry.
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Obviously Yung was impressed with what he saw and he decided to make a bid to buy the Aztar Corporation.After a bidding war with Pinnacle Entertainment, Yung succeeded in obtaining Aztar with a bid of $54 per share.Yung said the logical choice to be president and CEO of the Atlantic City Tropicana was Fred Buro because of his knowledge of the market.

"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," William J. Yung III, the company's president and CEO, said in a statement Monday.

"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 III, the company's president and CEO.