On Monday, Ameristar Casinos announced it was offering $42.00 per share for Aztar, topping Colony Capital's $41.00 offer and Pinnacle Entertainment's $38.00 offer.

While the Tropicana in Atlantic City is currently Aztar's premier location, it's the Tropicana Las Vegas that puts Aztar in demand. The Vegas Trop is on 34 acres of some of the best developable land on the strip.

Many market investors expect higher offers from Pinnacle and Colony while others think a fourth bidder is in the wings.

Stay tuned....