Belle of Baton Rouge part of $1.85B sale

Belle of Baton Rouge part of $1.85B sale
Possible casino smoking ban (Source: WAFB)

BATON ROUGE, LA (WAFB) - The Belle of Baton Rouge will be sold as part of a $1.85 billion acquisition of Tropicana Entertainment by Eldorado Resorts, which owns casinos in Shreveport and Lake Charles, according to the Baton Rouge Business Report.

Billionaire Carl Icahn's company announced this morning that it has a definitive agreement to sell Tropicana Entertainments real estate to Gaming and Leisure Properties Inc. and to merge its gaming and hotel operations into Eldorado Resorts. The deal does not include Tropicana's Aruba assets, which will be disposed of as a closing condition. The deal is expected to close in the second half of this year, subject to regulatory approvals.

Icahn Enterprises initially bought a stake in Tropicana in 2008. The Las Vegas company currently owns and runs eight casinos and resorts.

Tropicana recently announced plans to upgrade the Belle of Baton Rouge if the Louisiana Legislature passes a bill that would remove a provision in state law requiring riverboat casinos to be floating vessels on the water. It's unclear if Eldorado Resorts will invest in upgrades to the 22-year-old facility.

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