![]() Payment for the property was made via rental credits. In April, after the pandemic began, Penn National Gaming sold the Tropicana to Gaming and Leisure Properties for $307.5m. Parks has yet to complete extensive outreach in search of a potential buyer, telling the Las Vegas Review-Journal, “We’re just waiting to see how things shake out in the world.” We’re just waiting to see how things shake out in the world.” Parks, there is currently no asking price, though Gaming and Leisure figures it can get at least what Penn National paid for the property five years ago: $360m. Michael Parks of the CBRE Group’s global gaming unit is the listing broker for the property. The current owner of the Tropicana Casino is looking to sell the casino outright or sell and rent it back. The Tropicana casino one of those that is still closed, but is scheduled to reopen on September 1. Casinos shut down in March to try to slow the spread of COVID-19, but many properties remain closed in Southern Nevada, even after they were permitted to reopen on June 4. ![]() The pandemic has devastated the economy of Las Vegas. The listing comes at a time when Sin City is struggling to come back from closures due to the COVID-19 pandemic. ![]() ![]() The 35-acre hotel and casino is up for sale with no asking price. Gaming and Leisure Properties is looking to offload the Tropicana Las Vegas on the south end of the Las Vegas Strip. ![]()
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