Bally’s Acquisition of Tropicana Evansville Casino Finalized

Bally’s Corporation, the leading US omni-channel provider of land-based gaming and interactive entertainment, has announced that its acquisition of Tropicana Evansville Casino from Caesars Entertainment has been completed. The acquisition also includes the unencumbered rights to the Evansville operations’ sports betting and gaming skins.

Representatives from Bally’s Corporation say that this is a major accomplishment in an already successful year and that they are excited about welcoming Tropicana Evansville into the Bally’s family.

“The Tropicana Evansville acquisition closing marks another major accomplishment in what has already been a truly remarkable year for Bally’s. As we continue to implement our growth and diversification strategy with precision, we are excited to welcome the Tropicana Evansville into the Bally’s family and look forward to the opportunity to provide our first-in-class land-based and interactive entertainment offerings to the Indiana gaming market,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation.

The Details

Bally’s Corporation acquired Tropicana Evansville Casino for $140 million. An of Gaming & Leisure Properties, Inc. has acquired the real estate associated with the casino for $340 million, which is leased to Bally’s for $29 million per year.

Tropicana Evansville maintains 79,000 square feet of enclosed space, including 45,000 square feet of casino floor, four dining venues, a race and sportsbook, and back of house space. The property also has 11,000 square feet of convention space next to the casino and a Riverfront Event Center across the street, 10,000 square feet overlooking the Ohio River.

More About the Partners

Bally’s Corporation is a full-service, vertically integrated sports betting and iGaming company in the United States, with a B2B2C business model. The company owns and operates 13 casinos across nine states, a racetrack, and 13 authorized OTB licenses in Colorado. The company employs over 6000 people, and manages 14,445 slot machines, 498 game tables, and 3,680 hotel rooms.

Caesars Entertainment was created in 2020, when Caesars Entertainment Inc and Eldorado Resorts came together to create the largest gaming company in the United States. The legacy of Caesars Entertainment began in 1937 in Reno, Nevada. The company boasts the world’s most prestigious gaming brands, such as Caesars Palace, Harrah’s, Horseshoe and Tropicana.

Source:

“Bally’s Corporation Completes Acquisition Of Tropicana Evansville Casino”, investors.ballys.com, June 4, 2021.