The Quarter
at Tropicana
Resort & Casino

Atlantic City, NJ

Must-see destination for gamers and non-gamers with a significant positive bottom-line impact.

Client: Aztar Corporation (NYSE: AZR)

Project: $285 M mixed-use redevelopment of existing Tropicana casino and hotel property to include a 150,000 SF retail, dining, and entertainment complex, 500-room hotel tower and 2400 car parking garage.

• Market Research / Feasibility assessment
• Concept development
• Development plan and strategy
• Financial analysis
• Lease plan
• Rent roll
• Strategic marketing packages

• Development consulting
• Leasing advisory services
• Creation of Tropicana-owned venues

Vibrant worked with Aztar Corporation to assess the feasibility of expanding the existing Tropicana Resort & Casino in Atlantic City to include: a 150,000 SF retail, dining, and entertainment (RDE) development; a 500-room hotel tower; and a 2,400-space parking garage. Vibrant determined that the core RDE was viable and developed the concept, development program, master plan, financial models and development strategy for the project. Aztar proceeded with the $285 million project known as The Quarter. Vibrant served as owner's representative and worked with Aztar and the development team throughout the development process to create entertainment venues owned by Tropicana and to secure property-defining tenants, including Carmine's, Red Square, Ri Ra Irish Pub & Restaurant, The Palm, and Bluemercury Apothecary & Spa.

The Quarter, along with the Havana Tower and Tropicana's new parking facility, opened in late 2004. The project has been well received by Atlantic City's visitors and has been featured in The New York Times, The Washington Post and The Philadelphia Inquirer. In 2005, the first full year of operation of The Quarter, Tropicana's reported gaming revenue increase of 22% with total EBITDA up $50 million over the previous year.