Tropicana Entertainment Inc. was a

publicly traded A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

gaming company that owned and operated casinos and resorts in

Indiana Indiana ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the s ...

Louisiana Louisiana ( ; ; ) is a state in the Deep South and South Central regions of the United States. It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states, it ranks 31st in area and 25 ...

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. and

Aruba Aruba, officially the Country of Aruba, is a constituent island country within the Kingdom of the Netherlands, in the southern Caribbean Sea north of the Venezuelan peninsula of Paraguaná Peninsula, Paraguaná and northwest of Curaçao. In 19 ...

. Tropicana properties collectively had approximately 5,500 rooms, 8,000 slot positions and 270 table games. The company was based in Spring Valley,

, and was majority-owned by Icahn Enterprises. The company was acquired in 2018 by Eldorado Resorts and

Gaming and Leisure Properties Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company ow ...

for $1.85 billion.

History

In January 2007,

Columbia Sussex Columbia Sussex is a privately owned hotel company based in Crestview Hills, Kentucky. The company, owned by the Yung family, owns and operates hotels in various parts of the United States. The current president and founder is William J. Yung III ...

acquired Aztar Corporation, owner of the Tropicana casinos in Las Vegas and

Atlantic City Atlantic City, sometimes referred to by its initials A.C., is a Jersey Shore seaside resort city in Atlantic County, in the U.S. state of New Jersey. Atlantic City comprises the second half of the Atlantic City- Hammonton metropolitan sta ...

, and three other casinos, for $2.1 billion. A new subsidiary, Tropicana Entertainment LLC, was created to hold the combined company's casinos. After losing control of its largest property, the Tropicana Atlantic City, the new company was quickly forced into bankruptcy in May 2008. While in bankruptcy, the

Tropicana Las Vegas The Tropicana Las Vegas was a casino hotel on the Las Vegas Strip in Paradise, Nevada. It operated from 1957 to 2024. In its final years, the property included a casino and 1,467 rooms. The complex occupied at the southeast corner of the Tro ...

was split off as a separate entity. The rest of the company emerged from bankruptcy on March 8, 2010, as Tropicana Entertainment Inc., under the leadership of investor

Carl Icahn Carl Celian Icahn (; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, ...

. On the same day, it regained control of the Tropicana Atlantic City, which Icahn and other investors had bought for $200 million in canceled debt. In approving the transfer, the Casino Control Commission stressed that Tropicana was a "different company" than the company that had lost its license in 2007. In March 2011, Tropicana sold the Horizon Casino in Vicksburg to a partnership of Tangent Gaming and Great Southern Investment Group, who renamed it as the Grand Station Hotel and Casino. In 2012, the company closed the Jubilee casino and consolidated its operations into the Lighthouse Point casino, which was expanded and rebranded as the Trop Casino Greenville. In May 2013, Tropicana agreed to sell the River Palms for $7 million to M1 Gaming, owner of Boomtown Reno, but the sale never went through. In July 2014, Tropicana instead agreed to sell the River Palms for $6.75 million to the owners of Dotty's. In March 2014, it was announced that the company's lease to operate the Horizon Casino Resort had expired on March 31, 2014, and was not renewed. The Park Companies took over the property under an LLC known as "NevaOne" and closed the property on April 1, 2014, to begin an intense $40 million top-to-bottom makeover. In April 2014, Tropicana acquired Lumière Place, HoteLumière, and the Four Seasons Hotel St. Louis from

Pinnacle Entertainment Pinnacle Entertainment, Inc. was an American gambling and hospitality company. It was acquired by Penn National Gaming in 2018. At the time of acquisition, it operated sixteen casino properties, located in Colorado, Indiana, Iowa, Louisiana, Mis ...

for $260 million. The company assumed management of the Trump Taj Mahal in Atlantic City after Icahn Enterprises purchased the casino's parent company. It closed in 2016. In April 2018, the company agreed to be acquired for $1.85 billion by Eldorado Resorts and

(GLP). GLP would pay $1.21 billion to buy the land and buildings of Tropicana's casinos, while Eldorado would acquire Tropicana Entertainment for $640 million, and lease the casinos from GLP. The parties later modified the deal so that the real estate of Lumière Place would be sold to Eldorado instead of to GLP. The sale was completed on October 1, 2018. The Tropicana Aruba was excluded from the deal and was separately sold to Icahn Enterprises.

Casinos

The properties owned by the company at the time of its acquisition were: *

Belle of Baton Rouge The Belle of Baton Rouge is a riverboat casino and hotel in Baton Rouge, Louisiana. It is owned by Gaming and Leisure Properties and operated by Bally's Corporation. Facilities The casino boat is a , four-deck sternwheeler built by Avondale Ship ...

–

Baton Rouge, Louisiana Baton Rouge ( ; , ) is the List of capitals in the United States, capital city of the U.S. state of Louisiana. It had a population of 227,470 at the 2020 United States census, making it List of municipalities in Louisiana, Louisiana's second-m ...

* Lumière Place –

St. Louis, Missouri St. Louis ( , sometimes referred to as St. Louis City, Saint Louis or STL) is an Independent city (United States), independent city in the U.S. state of Missouri. It lies near the confluence of the Mississippi River, Mississippi and the Miss ...

* MontBleu –

Stateline, Nevada Stateline is a census-designated place (CDP) on the southeastern shore of Lake Tahoe in Douglas County, Nevada, Douglas County, Nevada, United States. It lies next to the border with California and is conurbated with South Lake Tahoe, California ...

* Trop Casino Greenville –

Greenville, Mississippi Greenville is the List of municipalities in Mississippi, ninth-most populous city in the U.S. state of Mississippi, and the largest city by population in the Mississippi Delta region. It is the county seat of Washington County, Mississippi, Was ...

* Tropicana Aruba – Noord, Aruba *

Tropicana Casino & Resort Atlantic City The Tropicana Atlantic City, often referred to as The Trop, is a resort, casino hotel located on the beach and Boardwalk in Atlantic City, New Jersey. It is owned by Gaming and Leisure Properties and operated by Eldorado Resorts, Caesars Enterta ...

–

Atlantic City, New Jersey Atlantic City, sometimes referred to by its initials A.C., is a Jersey Shore seaside resort city (New Jersey), city in Atlantic County, New Jersey, Atlantic County, in the U.S. state of New Jersey. Atlantic City comprises the second half of ...

Tropicana Evansville Bally's Evansville is a casino hotel and entertainment complex in downtown Evansville, Indiana, United States, owned by Gaming and Leisure Properties and operated by Bally's Corporation. Originally named Casino Aztar, it was opened by Aztar Cor ...

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Evansville, Indiana Evansville is a city in Vanderburgh County, Indiana, United States, and its county seat. With a population of 118,414 at the 2020 United States census, 2020 census, it is Indiana's List of cities in Indiana, third-most populous city after India ...

Tropicana Laughlin The Tropicana Laughlin (formerly Ramada Express and Tropicana Express) is a casino hotel in Laughlin, Nevada. It is owned by Gaming and Leisure Properties and operated by Caesars Entertainment. The hotel has 1,498 guest rooms and suites, located ...

–

Laughlin, Nevada Laughlin () is an unincorporated community in Clark County, Nevada, United States. Laughlin lies south of Las Vegas, in the far southern tip of Nevada. As a resort town, it is known for its gaming and water recreation. As of the 2020 census, t ...

Previous casinos

* Bayou Caddy's Jubilee Casino – Greenville, Mississippi *Casino Aztar – Caruthersville, Missouri (now

Lady Luck Casino Caruthersville Century Casino & Hotel Caruthersville, formerly Lady Luck Casino Caruthersville, is a land-based casino and hotel in Caruthersville, Missouri. It is owned by Vici Properties and operated by Century Casinos. Missouri's first non-floating casino ...

) *Horizon Casino Resort – Stateline, Nevada (now Hard Rock Hotel and Casino (Stateline)) *Horizon Vicksburg Casino –

Vicksburg, Mississippi Vicksburg is a historic city in Warren County, Mississippi, United States. It is the county seat. The population was 21,573 at the 2020 census. Located on a high bluff on the east bank of the Mississippi River across from Louisiana, Vicksburg ...

(now Grand Station Vicksburg) *River Palms – Laughlin, Nevada (now Laughlin River Lodge) *

–

Las Vegas, Nevada Las Vegas, colloquially referred to as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-l ...

*Trump Taj Mahal – Atlantic City, New Jersey (management only; closed on October 10, 2016; now

Hard Rock Hotel & Casino Atlantic City The Hard Rock Hotel & Casino Atlantic City, formerly Trump Taj Mahal, is a casino and hotel on the List of boardwalks in the United States#Atlantic City, Boardwalk, owned by Hard Rock Cafe, Hard Rock International, in Atlantic City, New Jersey ...

)

References

{{Reflist, 35em 2018 mergers and acquisitions American companies disestablished in 2018 Companies based in Spring Valley, Nevada Companies that filed for Chapter 11 bankruptcy in 2008 Gambling companies of the United States Gambling companies disestablished in 2018 Hospitality companies of the United States