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Thread: Tropicana sold!

  1. #1
    Senior Member Deb1486's Avatar
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    Where are you Mrs. Gottrocks?

  2. #2
    Senior Member Rich99's Avatar
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    That's good news Deb!! At least i think it is lol
    I believe the Trop in Vegas is owned by the Penn National Group...
    It just seems a little weird that casinos sharing the same name are owned by different corporations ...
    Here with You! since 9/29/09

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    7 casinos for $1.85 billion... that is... cheap?

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    Rich - Yep, Penn National owns Trop LV. GLPI actually was spun off of Penn National and has really taken off with aggressive action as a REIT. It only operates two casinos actively that I know of - Hollywood Perryville being one of them.

    I've got mixed feelings about this. I'm not a huge fan of Eldorado - I know they've done well in their markets, but this is the biggest casino (I think) and biggest market they are in. Dunno. Trop AC had undergone many changes, and had really "glammed" it up a bit. I remember a decade back when Trop AC was sort of like the ... forgotten cousin in AC (back when it was uh, TropWorld?). That's not fair, but it wasn't all that hyped. They've really done a great job refurbishing and they've been aggressive promotionally. Of course, I think some have rumored for awhile that Icahn was doing this to find a way out, but still.

    When you factor in the North End coming alive again with Hard Rock and Oceans Resort, there's a lot more competition in AC, and I'm just wary of whether or not they are ready to roll, whenever they get control of the property. Hard Rock brought in a former AC Exec who spent time in LV, I think. Haven't heard who Ocean Resort's leadership is.

    Granted, my hunch is that things should be better for employees, although I don't know for sure, and for customers, with Hard Rock popping in the summer, if they get control later in the year, they may feel some pressure to give offers to folks initially. We'll see.

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