![]() ![]() ![]() Under terms of the deal, Icahn’s Gaming and Leisure Properties will pay $1.21 billion, excluding taxes and expenses, for substantially all of Tropicana’s real estate and enter into a master lease with Eldorado for the acquired real estate and that Eldorado will fund the remaining $640 million of cash consideration payable in the acquisition. The Nevada properties are South Lake Tahoe’s MontBleu and Tropicana Laughlin, but not the Tropicana resort on the Las Vegas Strip, which is owned by Penn National Gaming. Las Vegas-based Tropicana, a subsidiary of Icahn Enterprises, owns eight casinos, including two in Nevada. Reno-based Eldorado Resorts, a diverse regional casino group with 20 properties in 10 states, is acquiring Tropicana Entertainment for $1.85 billion, the companies announced early Monday. ![]() Financier Carl Icahn’s company has struck an approximately $1.85 billion deal that would fuse the gaming and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc. ![]()
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