Many of you already know that Bally’s Corporation agreed to purchase the Tropicana Las Vegas last April. The sale came to just over $300 million. That agreement was really for the land on the corner of Las Vegas Boulevard than it was the deteriorating hotel and casino. The non-land assets were another $150 million. Now, with the deal set to finalize, Bally’s has publicly stated that they re considering many options for the property. Those include that the hotel and casino will “almost certainly” be rebranded, but it’s not out of the realm of possibility that the whole site is…

Bally’s Corporation has purchased the Tropicana Las Vegas for just over $300 million, giving them their first property on The Strip. The agreement will be finalized sometime early next year, pending regulatory approval. The deal finds Bally’s paying $150 million for the Tropicana building and assets, then leasing the property from real estate investment trust Gaming and Leisure Properties for the next 50 years. Gaming and Leisure Properties had purchased Tropicana from Penn National Gaming just last year for the same price. “The Strip is visited by over 40 million players and guests per year, which we believe will significantly…

One of the few remaining Sin City casinos still closed has finally opened their doors! The Tropicana Las Vegas welcomes guests back today, after they had originally planned to reopen on September 1st. The date was pushed back due to concerns about market conditions, but they are now taking hotel reservations at their sole Las Vegas Strip property. Penn National says their Tropicana property will limit capacity on the gaming floor at no more than 50% of the maximum occupancy. They have also completed the installation of floor decals and signage to strictly enforce social distancing guidelines in areas where…

While many casinos on The Strip are welcoming guests back, the Tropicana Las Vegas will not open it’s doors until late summer. Parent company Penn National Gaming announced that the casino is officially set to reopen September 1st at 10am. Like with other Nevada casinos, the crowd on the gaming floor will be restricted to 50 percent of the capacity, as determined by building and fire officials. Visitors will see other health and safety precautions in place, too. Among these are the required wearing of face masks, except when eating meals or consuming beverages. Social distancing will be in effect….

Ah, the Tropicana Las Vegas. An actual landmark. One we have teased a bit over the years, but still one of the oldest and most recognizable names in Sin City. But are it’s days on the Strip over? Last week, owners Penn National announced they would be selling the Tropicana to navigate through the financial downturn caused by the Coronavirus outbreak. They are disposing of the real estate assets but it will continue to operate the facility. Given the uncertainty about the duration of the pandemic and with no meaningful revenue for the foreseeable future, the gaming company also said…