US – Bally’s completes $148m acquisition of Tropicana Las VegasBy William - 27 September 2022
Bally’s has completed on its previously announced acquisition of the Tropicana Las Vegas with Gaming & Leisure Properties.
GLPI and PENN completed the transaction relating to the acquisition of the non-land assets of the Tropicana Las Vegas for a cash purchase price of $148m. Bally’s will lease the land underlying the Tropicana property from GLPI for an initial term of 50 years at annual rent of $10.5m.
The Tropicana Las Vegas Hotel and Casino is located in Las Vegas, Nevada on a 35-acre parcel on the corner of Tropicana Boulevard and Las Vegas Boulevard. It includes 1,470 guest rooms, 50,000 square feet of casino space with 1,000 gaming positions, a 1,200-seat performance theater and 100,000 square feet of convention and meeting space.