It’s official! El Dorado now has full ownership and control over Tropicana AC. It’s another major move in Atlantic City, and El Dorado is about to bring it on! After all, they now own 99% of Tropicana’s real estate! So, it’s time to start turning a profit. With that said, if you’re in town this winter, Tropicana AC might be the place to be!
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The $1.85 Billion Deal
To sum up, Eldorado Resorts paid $1.85 billion for all of Tropicana’s properties. Although, there’s one that stands out above all others, Tropicana AC! After all, only Nevada and New Jersey offer both online casino & online sports betting! Plus, Mississippi and West Virginia both allow sportsbooks, and Eldorado also acquired properties there.
However, we’re talking about online sports betting here, which is exclusively available in NV and NJ. So, this is why Tropicana AC stands out above all! As of now, there are seven (well eight once Hard Rock goes live at the end of this quarter) online sportsbooks in NJ. And since June, more than $380 million has gone to sports betting. So acquiring an already up and running sportsbook may bring positive numbers at the end of the year!
Tom Reeg, President & CFO of Eldorado said, “With the acquisition of seven properties, Eldorado now enters two new gaming jurisdictions. Not to mention, we just added financial and geographical diversity to our casino and resorts operations.”
Let the Good Times Roll
As you may already know, late last month, Tropicana and William Hill established a new partnership. Not to mention, they’re already building a new on sight state-of-the-art 5,000 sq.ft. Sportsbook.
With Eldorado’s experience and desire to still be standing in AC 100 years from now. We expect much more news on this in the coming weeks, months, and years to come!
So stay tuned as things just got even more exciting in Atlantic City!