- Joined
- Jan 14, 2008
- Messages
- 61,329
SOURCE- FULL STORY
This week started off with some major news for the US casino market, as Carl Icahn announced he has entered into a
definitive agreement to sell Tropicana Entertainment to Eldorado Resorts for $1.85 billion.
The sale includes the following Tropicana properties:
Tropicana Atlantic City — Atlantic City, NJ
Belle of Baton Rouge — Baton Rouge, La.
Lumière Place — St. Louis
Trop Casino Greenville — Greenville, Miss.
Tropicana Evansville — Evansville, Ind.
Tropicana Laughlin — Laughlin, Nev.
MontBleu Resort Casino & Spa — Stateline, Nev.
An eighth casino in Aruba, “will be disposed of as a condition to closing,” according to the press release.
“The acquisition of seven Tropicana Entertainment properties will allow Eldorado to enter two new gaming jurisdictions and deliver additional financial and geographic diversity to our operating base,”
said company chairman and CEO Gary Carano. “Eldorado Resorts intends to implement our proven strategy of enhancing margins by further improving customer service
and the customer experience while focusing on promotion and other spending in all areas of the newly acquired properties.”
Eldorado is already a major player in the US casino industry, but flies under the radar due to its previous focus on smaller, regional casinos.
With the addition of Tropicana Entertainment’s seven casino properties, Eldorado Resorts will operate more than two dozen casinos in 12 states,
and has added a few larger properties to its portfolio.
Eldorado well-positioned for US online gambling
In addition to increasing its land-based casino footprint, the sale turns Eldorado Resorts into a key participant in the burgeoning US online casino industry.
Eldorado’s assets include casinos in three of the four online gambling states:
Nevada (a total of five casino properties)
New Jersey (Tropicana)
Pennsylvania (Lady Luck Nemacolin)
As well as in three states that have flirted with online legalization:
West Virginia (online gambling bills in 2017 and 2018)
Louisiana (online gambling bill in 2018)
Mississippi (multiple online gambling bills from 2011-2016)
Eldorado might be well positioned, but what we don’t know is how will Eldorado will approach online gambling.
Among the unanswered questions are:
Who will Eldorado partner with in Pennsylvania?
Will it keep Tropicana’s New Jersey online gaming deal with Gamesys intact?
With online poker liquidity sharing expected to go live on May 1, will Eldorado launch a Nevada poker site?
This week started off with some major news for the US casino market, as Carl Icahn announced he has entered into a
definitive agreement to sell Tropicana Entertainment to Eldorado Resorts for $1.85 billion.
The sale includes the following Tropicana properties:
Tropicana Atlantic City — Atlantic City, NJ
Belle of Baton Rouge — Baton Rouge, La.
Lumière Place — St. Louis
Trop Casino Greenville — Greenville, Miss.
Tropicana Evansville — Evansville, Ind.
Tropicana Laughlin — Laughlin, Nev.
MontBleu Resort Casino & Spa — Stateline, Nev.
An eighth casino in Aruba, “will be disposed of as a condition to closing,” according to the press release.
“The acquisition of seven Tropicana Entertainment properties will allow Eldorado to enter two new gaming jurisdictions and deliver additional financial and geographic diversity to our operating base,”
said company chairman and CEO Gary Carano. “Eldorado Resorts intends to implement our proven strategy of enhancing margins by further improving customer service
and the customer experience while focusing on promotion and other spending in all areas of the newly acquired properties.”
Eldorado is already a major player in the US casino industry, but flies under the radar due to its previous focus on smaller, regional casinos.
With the addition of Tropicana Entertainment’s seven casino properties, Eldorado Resorts will operate more than two dozen casinos in 12 states,
and has added a few larger properties to its portfolio.
Eldorado well-positioned for US online gambling
In addition to increasing its land-based casino footprint, the sale turns Eldorado Resorts into a key participant in the burgeoning US online casino industry.
Eldorado’s assets include casinos in three of the four online gambling states:
Nevada (a total of five casino properties)
New Jersey (Tropicana)
Pennsylvania (Lady Luck Nemacolin)
As well as in three states that have flirted with online legalization:
West Virginia (online gambling bills in 2017 and 2018)
Louisiana (online gambling bill in 2018)
Mississippi (multiple online gambling bills from 2011-2016)
Eldorado might be well positioned, but what we don’t know is how will Eldorado will approach online gambling.
Among the unanswered questions are:
Who will Eldorado partner with in Pennsylvania?
Will it keep Tropicana’s New Jersey online gaming deal with Gamesys intact?
With online poker liquidity sharing expected to go live on May 1, will Eldorado launch a Nevada poker site?
