Billionaire investor Carl Icahn has sold his Tropicana Entertainment casino business to regional operator Eldorado Resorts in a deal worth $1.85b.
On Monday, Eldorado announced that it had entered into a definitive agreement to acquire the casino operations of Tropicana Entertainment Inc. for $640m in cash.
The deal involves seven casino properties in six states: the Tropicana Laughlin and the MontBleu in Nevada, Indiana’s Tropicana Evansville, Louisiana’s Belle of Baton Rouge, Mississippi’s Trop Casino Greenville, Missouri’s Lumière Place and the Tropicana Casino in Atlantic City.
The properties operate a combined 7,900 slots, 265 gaming tables, 5,400 hotel rooms and various dining, retail and entertainment options. The additions will bring Eldorado’s total operations to 27 properties offering 26,800 slots and VLTs, over 800 tables and more than 12,500 hotel rooms.