Tropicana To Be Sold For $480 million
The company that owns Evansville’s riverfront casino is being sold.
On its website, Caesars Entertainment announced an agreement to sell Tropicana to Gaming and Leisure Properties and Twin River Worldwide Holdings.
The selling price: $480 million.
The proposed sale followed Eldorado Resorts' acquisition of Caesar's earlier this year.
The Indiana Gaming Commission approved the $17.3 billion merger but Eldorado had to have agreements in place to divest three Indiana properties by the end of this year.
The sale of Tropicana is expected to close in mid-2021 and is subject to regulatory approval.
There’s no word on how the sale will affect the operation of the casino on Riverside Drive, or the potential impact on local jobs and revenue.