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Yung has agreed to give up his seat

Jul 8, 2008 7:00 PM

by Ray Poirier | Just about ending his foray into casino gambling, William Yung has agreed to give up his seat on the board of directors of Tropicana Entertainment LLC.

Yung previously had agreed to step down from the CEO post, a position he held since establishing the gambling division of his privately-held Columbia Sussex Corp.

Tropicana Entertainment LLC filed for Chapter 11 bankruptcy protection after the company was stripped of it operating license in Atlantic City and has seen the Tropicana Atlantic City property ordered sold by gaming regulators.