Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
National  + Nevada  |  April 17, 2018
Dennis Kaiser
By: Dennis Kaiser

Eldorado, Tropicana, GLPI in $1.85B, Six-State, Seven-Casino Property Deal

Reno-based Eldorado Resorts, Inc. is acquiring Tropicana Entertainment Inc. in a cash transaction that is valued at $1.85 billion. Gaming and Leisure Properties (GLPI) will pay $1.21 billion for substantially all of Tropicana’s real estate, and enter into a master lease with Eldorado for the acquired real estate. Eldorado will fund the remaining $640 million of cash consideration payable in the acquisition.

GLPI is expected to acquire the real estate associated with the Tropicana property portfolio, except the MontBleu Casino Resort & Spa in South Lake Tahoe and the Tropicana Aruba Resort and Casino. Eldorado will enter into a triple net master lease for the acquired properties, which includes seven casinos in six states totaling roughly 7,900 slot machines, 265 table games and approximately 5,400 hotel rooms.

– Nevada properties: Tropicana Laughlin Hotel and Casino, and the MontBleu Casino Resort & Spa in South Lake Tahoe
– Indiana property: Tropicana Evansville
– Louisiana property: Belle of Baton Rouge Casino & Hotel
– Mississippi property: Trop Casino Greenville
– Missouri property: Lumière Place
– New Jersey property: Tropicana Casino and Resort, Atlantic City

Tropicana intends to dispose of Tropicana Aruba Resort and Casino prior to closing.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Eldorado ResortsConnect With Tropicana EntertainmentConnect With Gaming and Leisure Properties

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action