Compliance Updates

Eldorado Resorts Gets Permanent License for Tropicana Casino

Published

6 years ago

June 13, 2019

Niji Narayan

Eldorado Resorts Gets Permanent License for Tropicana Casino

Photo Source: pressofatlanticcity.com

Reading Time: < 1 minute

New Jersey Casino Control Commission has approved Eldorado Resorts’ application for a permanent casino license. Eldorado Resorts is a gaming and hospitality company with strong ties to the gaming industry that acquired the Tropicana casino in Atlantic City eight months ago.

The company already operates in 12 states via casino hotels. The company has properties in Florida, Missouri, Colorado, New Jersey, Iowa, Indiana, Mississippi, Nevada, West Virginia, Illinois, Ohio and Louisiana.

The company is rumored to be about to announce a merger with Caesars Entertainment Corporation. Media outlets are reporting that the two companies are that much closer to combing via a cash-and-stock deal.

The two companies announced merger talks had begun back in March and now it seems that the companies are getting closer to completing the deal. When Eldorado Resorts purchased Tropicana Entertainment they received the property from Carl Icahn. A 28.5% stake of Caesars had been amassed by Icahn which was absorbed by Eldorado Resorts. Analysts feel that the stake factor could play a large role in the deal between Eldorado and Caesars.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.