Over $200 million will be spent on upgrading Tropicana.
Nevada Gaming Commission have finally given their approval to Pen National Gaming for the purchase of the 58-year old Tropicana Las Vegas Hotel and Casino on the Las Vegas Strip. Pen National have announced their intentions in April this year and now the $360 million acquisition can move forward. The purchase is announced to be completed the following week.
Nevada Gaming Commission have given a unanimous yes to Pen’s acquiring of iconic Tropicana Las Vegas. After years of searching for the right place in the most attractive tourist area, Pen has finally found their spot on the Las Vegas Strip. The newly acquired Tropicana will definitely extend their grasp on regional market. Pen National Gaming already own 26 casinos and racetracks across the country and now they have something to offer to their 3-million database of customers who enjoy gambling in Las Vegas. The nearby M Resorts, situated in Henderson, Nevada also owned by Pen National will certainly pose a benefit. Therefore, they have appointed Bob Sheldon to run both resorts, Tropicana and M. Sheldon was executive of Kansas casino and he also worked at Las Vegas Hilton and Mirage Resorts.
Pen executives claim that they are satisfied with the state of the casino. Tropicana boasts a 50, 000 square-foot casino, 1,500 renovated guest rooms, restaurants, performance theater, business center, spa and many other amenities. Still, it could be even better. According to Pen National’s CEO, Timothy Wilmott, they have big plans for Tropicana in the next four years. They plan to spend over $200 million on the upgrade of Tropicana which will be realized in two stages. The first stage will cover the introduction of the loyalty program for the vast database of customers and improving the slot games. This stage is estimated to cost $20 million. The second stage will focus on upgrading the facility in the long run providing it with additional content for their customers. This will include the upgrade of the restaurant, bar, shopping opportunities and hotel rooms. As Pen executives announced they will not change the name of the resort.