6 months after the casino came off the water and into downtown Evansville, Tropicana Entertainment announced plans to sell its casino and hotel operations.
The sale of the Tropicana casino may not impact the people who stay in the hotel and gamble in the casino, at least not right away.
That could all change once the new owners are in place, but until then city officials say they expect business to go on as usual.
Tropicana casino holdings will be sold to “Gaming and Leisure Properties, Incorporated.”
“We certainly don’t expect any major change in how the relationship and the city and the new owner,” says Evansville Mayor Lloyd Winnecke.
Since GLPI is not authorized to conduct gaming, the gaming and hotel operations are being sold to another company.
“A company, El Dorado who is a gaming operator is purchasing the other assets of Tropicana, and they would be under this proposal the operator,” says Indiana Gaming Commission deputy director Jennifer Reske.
The deal is in the early planning stages.
In fact, the Indiana Gaming Commission says it has yet to get an application for the deal.
“A transaction like this triggers many approvals,” says Reske.
“They are subject to customary approvals both here and other jurisdictions. Once we receive those we will have a better idea of how long our investigation will take.”
In the meantime, Mayor Winnecke says he is confident the city will maintain good relationships with possible new investors.
“This will be a time consuming process, but we are confident that El Dorado’s commitment to the city is strong. We are confident the local leadership team will remain in place, and again the relationship between the city and the local leadership team is very, very strong.”
The Indiana Gaming Commission says the proposal could possibly be ready by the third or forth business quarter depending on when the casino submits a proposal.