|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||38.57|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||55.00|
LAS VEGAS, May 15, 2018 /PRNewswire/ -- Tropicana Entertainment Inc. (TPCA) ("Tropicana" or the "Company"), a majority owned subsidiary of Icahn Enterprises L.P. (IEP), has announced that the "window-shop" period provided for in the merger agreement signed in connection with the merger of Tropicana's gaming and hotel operations into Eldorado Resorts, Inc. (ERI), and the related sale of Tropicana's real estate to Gaming and Leisure Properties, Inc. (GLPI), expired at 6:00 p.m. (New York City time) today. Pursuant to the merger agreement, during the period from April 15, 2018 until the expiration of the "window-shop" period, if the Company received an unsolicited acquisition proposal from a third party that the Company's Board of Directors determined in good faith constituted or may have resulted in a superior proposal, then the Company would have had the right to provide information to, and participate in discussions or negotiations with, that third party and, subject to the terms and conditions of the merger agreement, terminate the merger agreement.
Carl Icahn’s company is selling its majority-owned casino subsidiary, Tropicana Entertainment, for about $1.85 billion.
Carl Icahn has pulled off his second coup in two weeks, as Icahn Enterprises (IEP), the limited partnership that he controls, reached a deal to sell its majority-owned casino company, Tropicana Entertainment (TPCA), for $1.85 billion to Gaming and Leisure Properties (GLPI) and Eldorado Resorts (ERI). Icahn started assembling Tropicana, whose properties including a casino-hotel in Atlantic City, in 2008, when Tropicana was in bankruptcy. The transaction follows a deal last week, when Icahn Enterprises agreed to sell its wholly owned auto-parts company, Federal-Mogul, to Tenneco (TEN) for about $2.4 billion in cash and stock, netting an estimated profit of $700 million -- about a year after Icahn Enterprises bought out minority holders.
ATLANTIC CITY, N.J. (AP) — Carl Icahn's company struck an approximately $1.85 billion deal Monday that would fuse the gambling and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc.
After scooping up bankrupt casinos at discount prices, Carl Icahn’s company is cashing in its chips, selling everything in the sector except a small Atlantic City casino that isn’t operating. Icahn Enterprises LP said Monday it has reached deals to sell its majority-owned subsidiary, Tropicana Entertainment Inc., for $1.85 billion. The company owns about 84% of Tropicana, which operates eight casinos and resorts in the U.S. and Aruba, including its flagship property, Tropicana Atlantic City.
Under the deal announced on Monday, six of the eight casino properties run by Tropicana will be sold by Icahn Enterprises LP to real estate investment trust Gaming and Leisure Properties for $1.21 billion. The casino operations will be taken over by Eldorado, which will pay the remaining $640 million and lease the properties from GLPI for an initial 15-year period.
Under the deal announced on Monday, six of the eight casino properties run by Tropicana will be sold by Icahn Enterprises LP (IEP.O) to real estate investment trust Gaming and Leisure Properties (GLPI.O) for $1.21 billion. The casino operations will be taken over by Eldorado, which will pay the remaining $640 million and lease the properties from GLPI for an initial 15-year period.
Among the companies with shares expected to trade actively in Monday's session are Bank of America, Facebook, General Motors, Tropicana Entertainment and Goldman Sachs.
Carl Icahn’s company has struck an approximately $1.85 billion deal that would fuse the gaming and hotel operations of Tropicana Entertainment to Eldorado Resorts
LAS VEGAS, April 16, 2018 /PRNewswire/ -- Tropicana Entertainment Inc. (OTCQB: TPCA) ("Tropicana"), a majority owned subsidiary of Icahn Enterprises L.P. (IEP), announced today that it has entered into a definitive agreement to sell Tropicana's real estate to Gaming and Leisure Properties, Inc. (GLPI) and to merge its gaming and hotel operations into Eldorado Resorts, Inc. (ERI), for aggregate consideration of approximately $1.85 billion.
Icahn Enterprises L.P. said Monday its majority-owned business Tropicana Entertainment Inc. has entered an agreement to sell its real estate to Gaming & Leisure Properties Inc. and to merge its gaming ...
NEW YORK, April 16, 2018-- Icahn Enterprises L.P. announced that its majority-owned subsidiary, Tropicana Entertainment Inc., today entered into a definitive agreement to sell Tropicana’ s real estate ...
Casino operator Eldorado Resorts Inc said on Monday it agreed to buy Tropicana Entertainment Inc in a deal valued at $1.85 billion in cash. Tropicana Entertainment owns and operates eight casinos and resorts ...
NEW YORK, NY / ACCESSWIRE / February 27, 2018 / Latest key findings by Growth Market Report for all traders, shareholders, and investors of Siga Technologies Inc. (OTC PINK: SIGA) and Tropicana Entertainment ...
Categories: Yahoo FinanceGet free summary analysis Tropicana Entertainment, Inc. reports financial results for the quarter ended September 30, 2017. We analyze the earnings along side the following peers of Tropicana Entertainment, Inc. – Wynn Resorts, Limited, Las Vegas Sands Corp., Boyd Gaming Corporation, Monarch Casino & Resort, Inc. and Penn National Gaming, Inc. (WYNN-US, LVS-US, BYD-US, MCRI-US ... Read more (Read more...)
LAS VEGAS and NEW YORK, Aug. 10, 2017 /PRNewswire/ -- Tropicana Entertainment Inc. (TPCA) ("Tropicana") and Icahn Enterprises L.P. (IEP) ("IEP"), through its subsidiary Icahn Enterprises Holdings L.P., announced today the results of their combined cash tender offer for not less than 2,005,000 and not more than 5,580,000 shares of Tropicana's common stock, par value $0.01 per share (the "shares"), in the aggregate, at a price per share of not less than $38.00 and not greater than $45.00 (the "Offer"), which expired at 5:00 p.m., New York City time, on August 9, 2017. Tropicana and IEP will accept for payment all shares properly tendered and not properly withdrawn at a price of $45.00 per share, for a total purchase price of approximately $140.1 million in the aggregate. Of the shares to be accepted for payment, Tropicana severally, and not jointly, will accept for payment a total of 800,000 shares for a total purchase price of $36.0 million, and IEP severally, and not jointly, will accept for payment a total of 2,313,112 shares for a total purchase price of approximately $104.1 million. The shares to be accepted for payment by Tropicana and IEP represent in the aggregate approximately 13% of Tropicana's common stock issued and outstanding prior to consummation of the Offer.
The Offer is being made severally, and not jointly, by Tropicana and IEP. The full terms and conditions of the Offer are discussed in the Offer to Purchase, dated June 23, 2017 (as amended and supplemented, the "Offer to Purchase"), the related Letter of Transmittal and other materials relating to the Offer filed with the Securities and Exchange Commission ("SEC"). Wells Fargo Bank N.A., the depositary and paying agent for the Offer, has informed Tropicana and IEP that as of 5:00 p.m., New York City time, on August 2, 2017, approximately 2,786,081 shares have been tendered in the Offer. The number of shares tendered may change significantly prior to the Expiration Time.
CNBC's Leslie Picker reports on legendary investor Carl Icahn selling positions in some of his stock picks potentially sending a sell signal to the market.
Billionaire investor Carl Icahn is cashing out of the casino business Tropicana Entertainment in a $1.85 billion deal that will see Eldorado Resorts picking up Tropicana's casino operations, including its crown jewel in Atlantic City.