EVANSVILLE, Ind. — Tropicana Entertainment Inc., parent company of Tropicana Evansville, announced Monday it is selling its properties and merging its hotel and gaming operations into Eldorado Resorts as part of a $1.85 billion transaction.
The Tropicana name has been on Evansville’s casino property eight years. The company sold its riverboat in Evansville last year and opened a land-based casino along Riverside Drive.
Tropicana Evansville General Manager John Chaszar said he has no further information beyond the release.
Tony Rodio, President and CEO of Tropicana, states in the release: “I am incredibly proud of what the entire Tropicana team has been able to accomplish over the past eight years, taking Tropicana from bankruptcy to one of the industry’s true success stories. I would like to thank Carl Icahn, Icahn Enterprises and the Tropicana Board of Directors for their personal support, financial commitment and the confidence that they have shown in Tropicana's management. This tremendous financial turnaround would not have been possible without it.
"Through their commitment and investment, Tropicana has been able to construct new casinos in Evansville, Indiana and Greenville, Mississippi and substantially renovate our other properties, including, most significantly, Tropicana Atlantic City, creating new employment opportunities and hundreds of temporary construction jobs in the process since our operations began in 2010. I would also like to thank the thousands of Tropicana team members whose hard work, dedication, and commitment to excellence also played a huge part in our accomplishment."
The transaction does not include Tropicana's Aruba assets, which will be disposed of as a condition to closing.
Eldorado Resorts is a gaming company based in Reno, Nevada. It was formed in 2014.