William J. Yung III

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  redemmas.org/news/87/ - [Cached Version]
  Published on: 4/12/2009    Last Visited: 4/13/2009  

  The owner of Columbia Sussex, Bill Yung, has been slashing at wages, healthcare, and pensions while increasing workloads. He has been quoted as claiming his only interest is "making money," and has made vows never to sign union contracts. The hospitality industry is the second fastest growing industry in Baltimore, so for the sake of this city it is vital that profiteers like Yung be driven out or forced to

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  www.nkentucky.wliinc3.com/cwt/external/WCPages/wcdirect - [Cached Version]
  Published on: 7/19/2008    Last Visited: 7/19/2008  

  William J. Yung, III, President740 Centre View Blvd.Crestview Hills, KY 41017Phone: (859) 578-1100

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  cincinnati.bizjournals.com/cincinnati/stories/2009/03/3 - [Cached Version]
  Published on: 3/31/2009    Last Visited: 3/31/2009  

  Bill Yung's Tropicana loss complete
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  In January, it filed two bankruptcy reorganization plans by which secured lenders would receive a majority ownership stake in the reorganized company and the ownership stake of Columbia Sussex owner Bill Yung would be extinguished.
  
  Yung paid $2.1 billion for Tropicana's former parent company in 2006. The Tropicana in Atlantic City, the company's flagship casino, lost its New Jersey casino license in December 2007 after complaints about upkeep and staffing. Yung resigned as CEO of Tropicana last summer.

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  indyreader.org/content/unite-here-march-and-food-drive- - [Cached Version]
  Published on: 11/14/2008    Last Visited: 1/20/2009  

  Bill Yung, CEO of Columbia Sussex, has repeatedly said in public that he will not sign a union contract. This summer he reneged on his word when he signed a contract with the Unite Here! Workers Sheraton Philadelphia City Center Hotel.

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  www.lasvegassun.com/news/2009/mar/24/tropicana-distribu - [Cached Version]
  Published on: 3/24/2009    Last Visited: 3/27/2009  

  Tropicana's creditors said the new company would assume its liabilities and issue common stock, stock rights and stock warrants; and potentially would have rights to any damages won in litigation against former Tropicana Entertainment owner William Yung III. Tropicana Entertainment spokesman Hud Englehart said the common stock would not be publicly held, and would be owned by the creditors.
  
  The creditors claim Yung mismanaged the company, causing it to lose a key gaming license in Atlantic City, and are asserting claims against him for breach of fiduciary duty, negligence and breach of contract. Yung, the disclosure statement says, disputes these allegations and plans to fight the reorganization plan.
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  The plans also cancel all the equity interests of Yung, who will not hold any positions with the company.

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  www.pechanga.net/archive20080608.html - [Cached Version]
  Published on: 6/8/2008    Last Visited: 6/26/2008  

  Casino CEO William Yung steps down from Tropicana (KENTUCKY) -- Embattled casino operator William J. Yung III has stepped down as chief executive officer of Tropicana Entertainment Holdings, LLC, which has filed for bankruptcy.

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  www.hastyinsure.com/cheap-short-term-health-insurance-a - [Cached Version]
  Last Visited: 7/3/2008  

  Casino CEO William Yung steps down from Tropicana - Chicago TribuneCasino CEO William Yung steps down from Tropicana Chicago Tribune, United States - 21 hours ago Embattled casino operator William J. Yung III has stepped down as chief executive officer of Tropicana Entertainment Holdings, LLC, which has filed for ... Yung out as CEO of game company Cincinnati Enquirer Embattled Tropicana CEO Steps Down Wall Street Journal Tropicana forms new board, names Butera as CEO Reuters Business Wire (press release) - Las Vegas Review - Journal all 39 news articles

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  www.pressofatlanticcity.com/106/story/157749.html - [Cached Version]
  Published on: 5/14/2008    Last Visited: 5/14/2008  

  But state attorneys argued against reinstating the license for the "boss of bosses," a stinging reference to William J. Yung III, the chief executive officer of a Kentucky-based gaming empire blamed for nearly running Tropicana into the ground last year.Yung, who heads Tropicana Entertainment LLC and affiliate Columbia Sussex Corp., was denied a license Dec. 12 after a tumultuous year of declining revenue, regulatory violations and mass layoffs that left the casino understaffed and dirty.The New Jersey Casino Control Commission ruled that Yung and his companies lacked the good character, business ability and financial responsibility required under the licensing standards.Those themes were repeated by state attorneys in arguments before a three-judge New Jersey appeals panel in Tropicana's lawsuit challenging the loss of its license.
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  They could not believe what he said."Tropicana attorney Karen Confoy denied that Yung had tried to mislead regulators about Tropicana's staffing cuts, operations or regulatory compliance."Mr.
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  Yung was forthright in his testimony.
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  "No one has ever been denied a license on the basis of staffing decisions."The commission concluded that wholesale layoffs were the cause of poor service and unsanitary conditions that left Tropicana far short of the "first-class facility" that is required of casino license holders."The record shows that he was unprepared for that daunting task," Ingis said of Yung.

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  indyreader.org/content/unite-here-marches-sheraton-hote - [Cached Version]
  Published on: 11/20/2008    Last Visited: 1/20/2009  

  According to organizers, negotiations broke down with Columbia Sussex owner Bill Yung, resulting in the enacting of policies that have been detrimental to workers - such as the removal of seniority and the increase in health costs.
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  According to organizers, negotiations broke down with Columbia Sussex owner Bill Yung, resulting in the enacting of policies that have been detrimental to workers - such as the removal of seniority and the increase in health costs.

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  cincinnati.bizjournals.com/cincinnati/stories/2008/06/3 - [Cached Version]
  Published on: 7/3/2008    Last Visited: 7/12/2008  

  Yung to resign from Tropicana board
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  Tropicana bondholders sue Yung for default [Cincinnati] Stein wins second extension to sell Atlantic City Tropicana [Cincinnati] Yung out as CEO of Tropicana Entertainment [Cincinnati]
  
  Columbia Sussex's Bill Yung is resigning from the board of Tropicana Entertainment LLC, to resolve a dispute involving the casino operator's Chapter 11 bankruptcy case.
  
  Yung agreed to resign from the five-member board, and a group of bondholders that has pressed for the appointment of a trustee withdrew their request, according to a news release.He had resigned as CEO of Tropicana June 6.
  
  The settlement took place on Wednesday in U.S. Bankruptcy Court in Delaware.Tropicana had filed for bankruptcy in early May, listing assets of $2.8 billion and liabilities of $3.3 billion.Many of its woes stemmed from the loss of its license to operate its flagship Tropicana Casino in Atlantic City, N.J. New Jersey regulators yanked the license in December and placed it under the control of a trustee until a new owner could be found.
  
  "I'm pleased that we reached this resolution, and I look forward to working with all the parties to reach consensus on the continuing restructuring efforts of the company," Yung said in the release.
  
  Yung is president of Crestview Hills-based Columbia Sussex, which acquired Aztar Corp., operator of the Tropicana casinos, in 2006 for about $2.8 billion after a three-month bidding war.

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