The sale of the Tropicana Las Vegas casino and hotel from Penn Entertainment to Bally’s Corp for $308 million has received unanimous approval from the Nevada Gaming Control Board.
Bally’s President of Retail George Papanier said Tropicana would become Bally’s western flagship casino. “Over the last several years, we’ve been very busy growing Bally’s footprint. We view Tropicana Las Vegas as an opportunity for a flagship property for our western region,” he said.
He explained that while the casino will continue to operate under the Tropicana name in the near future, it will eventually adopt the Bally’s Las Vegas trademark.
Bally’s would continue to pay Penn-affiliated Gaming and Leisure Properties $10.5 million annually for 50 years under the terms of the arrangement, which was first announced in April 2021. In the US, Bally’s now operates 14 local casinos.