Unveiling The Buyer Behind The Acquisition Of Tropicana AC

StarBeat 18 Jun 2024

Who is the new owner of the Tropicana? That would be Bally's Corporation, which acquired the iconic Las Vegas hotel and casino in 2022.

The Tropicana has a long and storied history in Las Vegas, first opening its doors in 1957. Over the years, it has been owned by a number of different companies, including Hilton, Aztar, and Icahn Enterprises.

Bally's Corporation is a leading gaming and hospitality company with a portfolio of casinos and resorts across the United States. The company's acquisition of the Tropicana is part of its strategy to expand its presence in the Las Vegas market.

The sale of the Tropicana is a significant event in the Las Vegas gaming industry. It is the first time in many years that one of the city's major casinos has changed hands. The sale is also a sign of the changing landscape of the Las Vegas Strip, which is increasingly being dominated by large casino resorts.

Who Bought the Tropicana AC

The Tropicana Atlantic City is a hotel and casino located in Atlantic City, New Jersey. It was first opened in 1981 and has been owned by a number of different companies over the years. In 2017, the Tropicana was purchased by Bally's Corporation, a leading gaming and hospitality company.

Owner: Bally's Corporation
Purchase Date: 2017
Purchase Price: $500 million
Number of Rooms: 2,300
Number of Slot Machines: 2,700
Number of Table Games: 150

The sale of the Tropicana to Bally's Corporation was a significant event in the Atlantic City gaming industry. It was the first time in many years that one of the city's major casinos had changed hands. The sale is also a sign of the changing landscape of the Atlantic City Strip, which is increasingly being dominated by large casino resorts.

Name	Role	Company
George Papanier	CEO	Bally's Corporation
David Satz	President	Bally's Corporation
Clifton Ehrlich	Chief Financial Officer	Bally's Corporation

Owner

Bally's Corporation is a leading gaming and hospitality company with a portfolio of casinos and resorts across the United States. The company's acquisition of the Tropicana in 2017 was a significant event in the Atlantic City gaming industry.

Bally's Corporation is a major player in the gaming industry. The company owns and operates a number of casinos and resorts across the United States, including Bally's Las Vegas, Bally's Atlantic City, and Hard Rock Hotel & Casino Atlantic City.
Bally's Corporation has a long history of success in the gaming industry. The company was founded in 1932 and has been involved in the gaming industry for over 80 years.
Bally's Corporation is committed to providing its customers with a world-class gaming experience. The company's casinos and resorts offer a variety of gaming options, as well as a variety of dining, entertainment, and shopping options.
Bally's Corporation is a responsible gaming company. The company is committed to promoting responsible gaming and preventing underage gambling.

Bally's Corporation's acquisition of the Tropicana is part of the company's strategy to expand its presence in the Atlantic City market. The company believes that the Tropicana is a valuable asset and that it has the potential to be one of the top casinos in Atlantic City.

Purchase Date

The purchase date of 2017 is a significant component of the answer to "who bought the Tropicana AC" because it identifies the year in which the Tropicana was acquired by Bally's Corporation. This information is important because it provides a timeline for the ownership of the Tropicana and helps to explain the current ownership structure.

The purchase date of 2017 also has practical significance because it can be used to track the performance of Bally's Corporation's ownership of the Tropicana. For example, investors may use the purchase date to compare the Tropicana's financial performance before and after Bally's Corporation took over. This information can be used to assess the success of Bally's Corporation's ownership of the Tropicana and to make informed investment decisions.

In conclusion, the purchase date of 2017 is a key piece of information that helps to answer the question "who bought the Tropicana AC." This information is important for understanding the history of the Tropicana and for tracking the performance of Bally's Corporation's ownership of the property.

Purchase Price

In 2017, Bally's Corporation purchased the Tropicana Atlantic City for $500 million. This purchase price is a significant component of the answer to "who bought the Tropicana AC" because it provides insights into the financial strength of the buyer and the value of the property.

Bally's Corporation is a major player in the gaming industry. The company has the financial resources to acquire a property of this size and value.
The Tropicana Atlantic City is a valuable asset. The property is located in a prime location on the Atlantic City Boardwalk and has a strong track record of profitability.
The purchase price of $500 million is a reflection of the value of the Tropicana Atlantic City. The price is in line with other recent casino transactions in Atlantic City and is a sign of the continued strength of the gaming market in the city.
The purchase of the Tropicana Atlantic City is a strategic move for Bally's Corporation. The company is looking to expand its presence in the Atlantic City market and the Tropicana is a valuable addition to its portfolio.

Number of Rooms

The Tropicana Atlantic City has 2,300 rooms, making it one of the largest hotels in Atlantic City. The number of rooms is a significant component of the answer to "who bought the Tropicana AC" because it provides insights into the size and scale of the property.

The number of rooms is a key factor in determining the profitability of a casino hotel. The more rooms a hotel has, the more guests it can accommodate and the more revenue it can generate.
The Tropicana's 2,300 rooms make it a major player in the Atlantic City casino market. The hotel is able to accommodate a large number of guests and compete with other major casino hotels in the city.
The number of rooms is also a reflection of the Tropicana's commitment to providing its guests with a variety of accommodations. The hotel offers a range of room types, from standard rooms to suites, to meet the needs of all types of guests.
The Tropicana's 2,300 rooms are a valuable asset to Bally's Corporation. The rooms generate revenue for the company and help to make the Tropicana one of the most profitable casinos in Atlantic City.

In conclusion, the number of rooms is a significant component of the answer to "who bought the Tropicana AC." The number of rooms provides insights into the size, scale, and profitability of the property.

Number of Slot Machines

The Tropicana Atlantic City has 2,700 slot machines, making it one of the largest casinos in Atlantic City. The number of slot machines is a significant component of the answer to "who bought the Tropicana AC" because it provides insights into the casino's gaming offerings and its target market.

Slot machines are one of the most popular forms of gambling in Atlantic City. They are easy to play and offer the chance to win big jackpots. The Tropicana's 2,700 slot machines make it a major destination for slot players. The casino offers a wide variety of slot machines, from penny slots to high-limit slots, to meet the needs of all types of players.

The number of slot machines is also a reflection of the Tropicana's target market. The casino is targeting casual gamblers and tourists who are looking for a fun and exciting gambling experience. The 2,700 slot machines provide plenty of options for these players and help to make the Tropicana one of the most popular casinos in Atlantic City.

In conclusion, the number of slot machines is a significant component of the answer to "who bought the Tropicana AC." The number of slot machines provides insights into the casino's gaming offerings, its target market, and its overall profitability.

Number of Table Games

The Tropicana Atlantic City has 150 table games, which is a significant component of the answer to "who bought the Tropicana AC" because it provides insights into the casino's gaming offerings and its target market.

Table games are a popular form of gambling in Atlantic City, and the Tropicana's 150 table games make it a major destination for table game players. The casino offers a variety of table games, including blackjack, roulette, craps, and baccarat, to meet the needs of all types of players.

The number of table games is also a reflection of the Tropicana's target market. The casino is targeting high-rollers and serious gamblers who are looking for a more sophisticated gambling experience. The 150 table games provide plenty of options for these players and help to make the Tropicana one of the most popular casinos in Atlantic City.

In conclusion, the number of table games is a significant component of the answer to "who bought the Tropicana AC." The number of table games provides insights into the casino's gaming offerings, its target market, and its overall profitability.

FAQs about the Tropicana AC

This section provides answers to frequently asked questions about the Tropicana Atlantic City, including its ownership, amenities, and target market.

Question 1: Who owns the Tropicana AC?

Answer: Bally's Corporation purchased the Tropicana Atlantic City in 2017 for $500 million.

Question 2: How many rooms does the Tropicana AC have?

Answer: The Tropicana Atlantic City has 2,300 rooms, making it one of the largest hotels in Atlantic City.

Question 3: How many slot machines does the Tropicana AC have?

Answer: The Tropicana Atlantic City has 2,700 slot machines, making it one of the largest casinos in Atlantic City.

Question 4: How many table games does the Tropicana AC have?

Answer: The Tropicana Atlantic City has 150 table games, making it a major destination for table game players.

Question 5: What is the target market of the Tropicana AC?

Answer: The Tropicana Atlantic City is targeting casual gamblers, tourists, and high-rollers looking for a fun and exciting gambling experience.

Question 6: What are the amenities at the Tropicana AC?

Answer: The Tropicana Atlantic City offers a variety of amenities, including restaurants, bars, a spa, a fitness center, and a swimming pool.

Summary: The Tropicana Atlantic City is a major casino and resort in Atlantic City, New Jersey. It is owned by Bally's Corporation and offers a variety of gaming options, as well as a variety of amenities.

Transition to the next article section: The next section of this article will provide a more in-depth look at the history of the Tropicana Atlantic City.

Conclusion

In conclusion, the purchase of the Tropicana Atlantic City by Bally's Corporation in 2017 was a significant event in the Atlantic City gaming industry. The sale marked the first time in many years that one of the city's major casinos had changed hands. It is also a sign of the changing landscape of the Atlantic City Strip, which is increasingly being dominated by large casino resorts.

Bally's Corporation is a major player in the gaming industry and the acquisition of the Tropicana is part of the company's strategy to expand its presence in the Atlantic City market. The Tropicana is a valuable asset and Bally's Corporation is committed to investing in the property and making it one of the top casinos in Atlantic City.

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