Regional casino and racing operator Penn National Gaming (PNG) has struck a deal to purchase the Tropicana Las Vegas Casino Hotel Resort.
The Trop’s current owners, who include investor Alex Yemenidjian and Toronto-based private equity firm Onex Corp, have agreed to sell the perpetually money-losing property to PNG for $360m. PNG says it will fund the acquisition through an expansion of its existing credit facilities and cash on hand. The parties expect to close the …read more
Source:: Penn National Gaming to acquire Tropicana Las Vegas for $360m
Penn National Gaming to acquire Tropicana Las Vegas for $360m
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