Tropicana Sold to Eldorado Resorts

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ATLANTIC CITY, N.J. -

Eldorado Resorts has completed its purchase of the Tropicana casino.

The deal was finished on Monday, October 2nd, when the New Jersey Casino Control Commission gave Eldorado Resorts interim authority to own the Tropicana.

The agency still has to approve a full casino license for Eldorado.

The deal is part of a $1.85 billion acquisition of Tropicana Entertainment that billionaire investor Carl Icahn agreed to in April.

Eldorado representatives say the acquisition of the casino will allow the company to expand the scale of its gambling operations and reach new markets, including those that have approved sports betting.

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