Penn National Gaming on Friday announced an agreement to sell the Las Vegas property’s real estate assets — including land and buildings — to Gaming & Leisure Properties in return for $337.5 million in “rent credits.” Recently Sold Condos in TROPICANA VILLAS Over the last 180 days there have been no sales in TROPICANA VILLAS. Having opened in 1957, the Tropicana Las Vegas is one of the oldest venues located on the Las Vegas Strip. One we have teased a bit over the years, but still one of the oldest and most recognizable names in Sin City. he sale of Tropicana Las Vegas is complete, with its previous owner receiving $307.5 million in credit for rent.

Penn National Gaming Inc. agreed to buy the Tropicana Las Vegas Casino Hotel Resort for $360 million, giving the casino and racetrack operator its first property on the Strip.

Our sources are awesome, and three tell us Tropicana Las Vegas is being sold. Tropicana is an iconic casino in Las Vegas that has been in operation since 1957.

The Tropicana Hotel and Casino in Las Vegas is being sold for $360 million, reports The Associated Press.A group of shareholders, including private equity firm Onex Corp., say they will sell the 58-year-old Tropicana to the casino operator Penn National Gaming Inc. Word on the street is that the Tropicana is going to be sold this year, as a consolidation effort from 2019 continues into the New Year. Prepare to be surprised at Tropicana Las Vegas, a DoubleTree by Hilton hotel located on the Las Vegas Strip, NV with a world-class casino, dining and shows. The company sold the Tropicana Las Vegas casino, its only Strip property, to Gaming & Leisure Properties, a real estate investment trust that was created as a spinoff from Penn National in 2013. Tropicana Las Vegas will have a new owner.
"The owner of Tropicana Las Vegas, Penn National Gaming, has sold the casino to its real estate investment trust (REIT), Gaming & Leisure Properties, Inc.. Penn National Gaming will continue to operate the resort."

The Vital Vegas guy (Scott Roeben) has made comments that Phil Ruffin ( of TI and recent Circus Circus purchase) has been seen on-site at Trop a lot lately.
But are it’s days on the Strip over? That's one of the latest rumors, yeah. Gaming and Leisure Properties, Inc. (GLPI) announced Monday that its purchase of the Las Vegas Strip property had closed with Penn National Gaming. (Image: Eater Vegas) In a note obtained by Casino.org, … The Tropicana. Word on the street is that the Tropicana is going to be sold this year, as a consolidation effort from 2019 continues into the New Year. It offers 1,467 rooms, a 50,000-square-foot (4,600 m 2) gaming floor, and 72,000 sq ft (6,700 m 2) of convention and exhibit space. The Vital Vegas guy (Scott Roeben) has made comments that Phil Ruffin ( of TI and recent Circus Circus purchase) has been seen on-site at Trop a lot lately.

This is probably not going to be the only Las Vegas Strip sale taking place this year. The Trop cost $15 million to build.

The company said it was considering such a sale as one of its options with which to reduce PNG’s reported $11 billion debt. Sold for $137,000 on 2019-12-04. Tropicana Looks to Be First Las Vegas Casino Sale of 2020. Book your hotel room and suites online with the best rates guaranteed. Home » Las Vegas » Tropicana Las Vegas Sold Amidst Coronavirus Shutdown 8 Replies The owner of Tropicana Las Vegas, Penn National Gaming, has sold the casino to its real estate investment trust (REIT), Gaming & Leisure Properties, Inc. Mandalay Bay and MGM Grand beat them to the punch. The property was previously owned by Onex Corp. and Alex Yemenidijan. We'll see what, when, and who when the official stuff rolls out. In Shuttered Las Vegas, Tropicana Is Sold for Five Months’ Rent By . More Las Vegas Strip Properties Are Coming in 2020. An actual landmark. The Tropicana Las Vegas is a hotel and casino on the Las Vegas Strip in Paradise, Nevada.It is owned by Gaming and Leisure Properties and operated by Penn National Gaming, and is a franchise of Hilton's DoubleTree chain. We are a blog, not a psychic.) Having opened in 1957, the Tropicana Las Vegas is one of the oldest venues located on the Las Vegas Strip. That's one of the latest rumors, yeah. In Shuttered Las Vegas, Tropicana Is Sold for Five Months’ Rent; But on Friday night, Penn National Gaming Inc. announced it’s selling the Tropicana for $307.5 million -- about $52.5 million less than it paid for the Strip property five years ago. Stay in the middle of the action on the Vegas Strip at the Tropicana Las Vegas.

Penn National Gaming could sell Tropicana Las Vegas to raise cash and reduce debt.