The dispute arose in 2009, when Tropicana Las Vegas cut ties with Tropicana Entertainment, owner and operator of the Tropicana Atlantic City and Tropicana Express in Laughlin, Nevada. The Las Vegas property continued operating under the Tropicana’s moniker, however, the former parent company demanded a payment for the use of  Tropicana trademarks.

According to court records, Tropicana Entertainment requested a $10 million payment for the rights to use the Tropicana name over five years. The proposal was rejected by Tropicana Las Vegas Inc., which claimed that it shouldn’t have to pay trademark fees for using the longtime Tropicana name.

The new settlement favors Tropicana Las Vegas since there’s no payment requirements or licensing fees for the use of the Tropicana brand name. Under terms of the settlement, Tropicana Las Vegas will have the right to use the “Tropicana Las Vegas” and the “Tropicana LV” brands for online marketing and advertising purposes and within 50 miles of its Las Vegas Strip property. Tropicana Entertainment Inc., will have rights to use the “Tropicana” and “Trop” marks outside Las Vegas.

The settlement deal also establishes that both parts will work together to resolve all lawsuit claims amicably in order to avoid expenses, inconveniences, distractions and other possible issues related to the litigation process. The deal is now subject to approval by a bankruptcy court in Delaware, where Icahn’s Tropicana Entertainment filed a trademark lawsuit in 2010.

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