Tropicana Sold To New Owners

In an article published in this weekend’s Review Journal, it was revealed that the Tropicana, which has been up for sale for a while, has a new owner. Columbia Sussex Company has agreed to purchase the floundering hotel and several others owned by its current parent company for a package deal worth $2.75 billion.

Aztar Corp., which currently owns the Tropicana holdings, will merge with Columbia Sussex in a deal that includes both the Las Vegas and Atlantic City Tropicana casinos, as well as three smaller casinos in Laughlin, Missouri and Indiana. The merger still has to obtain regulatory approval, which both companies hope will go through by November to close the deal.

One of the biggest fears by fans of the Tropicana in Vegas was that it would be leveled in favor of a new high-roller property. Many enjoy the low room prices the resort routinely offers for it’s prime south Strip location. According to the article, while there are plans for renovations and new constructions, there are no plans to close the Tropicana at this time.

Have you stayed at the Tropicana? How do you feel about the buyout? Let us know.