Eldorado obtains approval to own Tropicana
The company received approval from the local gambling commission to own Atlantic City’s Tropicana casino.
US.- Eldorado Resorts revealed that it has received temporary approval from the New Jersey Casino Control Commission to own the Atlantic City Tropicana casino. The company showed optimism over the growing market.
The move to take over the casino is part of a US$1.8 billion acquisition of Tropicana Entertainment. While the New Jersey Casino Control Commission still needs to approve a full casino licence for the company, it granted interim authority to Eldorado to own the casino.
Thomas Reeg, the company’s president, said: “We’re coming in eyes wide open that we’re going to have to fight for our position in this market. We expect a fight for market share and we’re prepared to get involved. We’re buying an asset that we hope is standing and competing 50, 100 years from now.”
