Bally’s Buying Tropicana Hotel on Las Vegas Strip for $308 Million
LAS VEGAS The Tropicana Las Vegas Hotel and Casino, a Sin City namesake, is being sold to a new entrant among Las Vegas Boulevard resort owners.
Rhode Island-based Bally’s Corp. announced Tuesday it will acquire the iconic Strip property from Gaming and Leisure Properties Inc. for about $308 million.
The agreement for the nearly 1,500-room hotel, casino, theater and convention property also involves a sale-and-leaseback transaction relating to Bally’s Black Hawk, Colorado and Rock Island, Illinois, casino properties, the company said.
“Landing a preeminent spot on the Las Vegas Strip is a key step for us,” George Papanier, Bally’s president and CEO, said in a statement.
Nevada
United-states
New-jersey
Atlantic-city
Rock-island
Illinois
Las-vegas
Colorado
London
City-of
United-kingdom
George-papanier