Tropicana Las Vegas Sold Amidst Coronavirus Shutdown

Tropicana Las Vegas Sold Amidst Coronavirus Shutdown

The owner of Tropicana Las Vegas, Penn National Gaming, has sold the casino to its real estate investment trust (REIT), Gaming & Leisure Properties, Inc. Penn National Gaming will continue to operate the resort. Penn National will get $337.5 million in “rent credits” from Gaming & Leisure. The Trop has a history of drama, and this qualifies as that. For comparison purposes, MGM Resorts pays $292 million a year in rent to Blackstone Real Estate for Mandalay Bay and MGM Grand. A sale of Tropicana has long been rumored.  […]

Be the first to comment

Leave a Reply

Your email address will not be published.


*