Icahn to sell Tropicana in $1.85B deal to Eldorado, REIT [Business News Network (BNN) Energy & Resources (Canada)]
Gaming and Leisure Properties, Inc. (GLPI)
Last gaming and leisure properties, inc. earnings: 4/30 04:15 pm
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Source: Business News Network
Icahn to sell Tropicana in $1.85B deal to Eldorado, REIT Eldorado Resorts Inc. and real-estate company Gaming and Leisure Properties Inc. are teaming up to buy Carl Icahn’s casino operator, Tropicana Entertainment Inc., for US$1.85 billion in cash, adding to a wave of consolidation in the gambling industry. Gaming and Leisure will pay US$1.21 billion for most of Tropicana’s casinos and will lease the properties to Eldorado, the buyers said in statements Monday. Eldorado will pay the remaining US$640 million of the purchase price. The boards of all three companies have approved the deal. The sale is Icahn’s second in about a week. On April 10, the billionaire investor agreed to sell auto-parts maker Federal-Mogul LLC to competitor Tenneco Inc. for US$5.4 billion. With Monday’s deal, Eldorado will gain seven casinos in six states, including two in its home state of Nevada. The acquisition is the second big deal that Eldorado has announced in about 18 months. The Reno-based company bough
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GLPI
Earnings
- 2/27/24 - Beat
GLPI
Sec Filings
- 4/24/24 - Form 8-K
- 4/18/24 - Form 4
- 3/4/24 - Form 4
- GLPI's page on the SEC website