“The planned acquisition of Tropicana Las Vegas establishes a strong presence on the Las Vegas Strip for Penn National Gaming, fulfilling an important long-term strategic objective for the Company,” company CEO Timothy Wilmott said in a statement. It’s the largest acquisition for the company since its 2011 purchase of the M Resort in Henderson. The Strip hotel-casino on 35 acres at Tropicana Boulevard will be purchased for $360 million from its shareholders, the largest of which is a partnership between Onex and Alex Yemenidijan. Penn National Gaming on Wednesday announced an agreement to acquire the Tropicana. The resort is seen here in a Friday, Jfile photo. The deal with between the hotel and the negotiating committee still needs to be ratified by the employees. The Tropicana is the first independent hotel-casino to reached an agreement - still tentative for now - on a new five-year labor contract with Culinary Local 226 and Bartenders Local 165, covering some 650 nongaming employees at the Strip resort.
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