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Tropicana Entertainment

From Alfawiki
Adapted from the English Wikipedia article Tropicana Entertainment, available under CC BY-SA 4.0Updated 27 November 2025
Tropicana Entertainment Inc.
Company typePublic
IndustryGaming, Hospitality
Defunct2018
FateAcquired by Eldorado Resorts and Gaming and Leisure Properties
Headquarters
Spring Valley, Nevada
,
United States
Area served
Indiana, Louisiana, Mississippi, Nevada, Missouri, New Jersey, Aruba
Key people
Carl Icahn (investor)
ProductsCasinos, Resorts
OwnerIcahn Enterprises (until 2018)

Tropicana Entertainment Inc. was a publicly listed gaming enterprise that operated casinos and resorts in several locations including Indiana, Louisiana, Mississippi, Nevada, Missouri, New Jersey, and Aruba. Its assets comprised roughly 5,500 guest rooms, 8,000 slot machines, and 270 table games. The company was headquartered in Spring Valley, Nevada, and was predominantly owned by Icahn Enterprises until its acquisition in 2018 by Eldorado Resorts and Gaming and Leisure Properties for $1.85 billion.

History

In January 2007, Columbia Sussex completed the purchase of Aztar Corporation—which owned Tropicana casinos in Las Vegas and Atlantic City—for $2.1 billion, establishing Tropicana Entertainment LLC to oversee the combined holdings. Following the loss of control over Tropicana Atlantic City, the company filed for bankruptcy protection in May 2008. During the bankruptcy process, Tropicana Las Vegas was separated from the main entity.

Tropicana Entertainment Inc. reemerged from bankruptcy on March 8, 2010, under the leadership of investor Carl Icahn. On this same date, the company reacquired Tropicana Atlantic City when Icahn and his partners purchased it for $200 million in canceled debt. Regulatory approval confirmed that this licensee was a new entity distinct from its predecessor.

In 2011, Tropicana divested Horizon Casino in Vicksburg to Tangent Gaming and Great Southern Investment Group, who subsequently rebranded it as Grand Station Hotel and Casino. By 2012, operations consolidated with the closure of Jubilee casino and expansion of Lighthouse Point into what became Trop Casino Greenville.

The River Palms casino was initially set to be sold to M1 Gaming for $7 million in 2013; after that agreement fell through, it was sold in 2014 to the owners of Dotty's for $6.75 million. Additionally, Tropicana ended its lease of Horizon Casino Resort in 2014; The Park Companies took over the property and subsequently closed it for a $40 million renovation.

In April 2014, Tropicana acquired Lumière Place casino, Hotel Lumière, and Four Seasons Hotel St. Louis from Pinnacle Entertainment for $260 million. The company also managed Trump Taj Mahal following Icahn Enterprises’ acquisition of its parent company; however, the casino ceased operations in 2016.

In April 2018, Eldorado Resorts and Gaming and Leisure Properties reached an agreement to acquire Tropicana Entertainment for $1.85 billion: GLP purchased the real estate assets for $1.21 billion while Eldorado acquired the operating businesses for $640 million and leased properties from GLP. The transaction was later modified so that Lumière Place’s real estate transferred to Eldorado instead of GLP. This acquisition finalized on October 1, 2018. Notably, Tropicana Aruba was excluded from this deal and was sold separately to Icahn Enterprises.

Casinos

At the time of its purchase, the company owned these properties:

Previous casinos

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