- Icahn Enterprises (NASDAQ:IEP) announces that its Tropicana Entertainment (OTCQB:TPCA) subsidiary struck a deal to sell Tropicana’s real estate to Gaming and Leisure Propertie. (GLPI) and to merge its gaming and hotel operations into Eldorado Resorts (ERI) for an aggregate consideration of ~$1.85B.
- The transaction does not include Tropicana’s Aruba assets. The aggregate consideration of approximately $1.85B will be increased by the amount of the proceeds received in connection with the Aruba disposition after closing and will be further adjusted to pay corporate level taxes.
- The transaction is expected to close in the second half of this year.
- Source: Press Release