American regional casino operator, Eldorado Resorts Incorporated, has now reportedly increased its portfolio to encompass properties in twelve states after the New Jersey Casino Control Commission approved its license to run the Tropicana Casino and Resort Atlantic City.
According to a Tuesday report, the Reno-headquartered firm inked a $640 million deal in April of last year that saw it given the rights to run the gambling operations at seven casinos previously owned by Tropicana Entertainment Incorporated.
The newspaper reported that the venues in this 15-year arrangement had recently been purchased by Gaming and Leisure Properties Incorporated as part of a much larger $1.21 billion arrangement and included the 2,100-room Tropicana Casino and Resort Atlantic City alongside compatriots in the states of Louisiana, Nevada and Indiana.
Atlantic City concentration:
The Press of Atlantic City reported that the Eldorado Resorts Incorporated is now responsible for 26 properties in the states of Nevada, New Jersey, Florida, Colorado, Indiana, West Virginia, Illinois, Louisiana, Missouri, Iowa, Mississippi and Ohio. Despite the size of this portfolio, the casino firm’s President and Chief Operating Officer, Anthony Carano, purportedly used a Tuesday licensing hearing before the New Jersey Casino Control Commission to declare that his firm’s ‘full attention’ was to now be directed towards its new Atlantic City venue.
Carano reportedly stated…
“It’s an honor and a big day for us to get our gaming license in Atlantic City.”
Steve Callender, Regional Operations Senior Vice-President for Eldorado Resorts Incorporated, reportedly echoed these sentiments before stating that his firm is committed to improving the Tropicana Casino and Resort Atlantic City. He purportedly admitted that the local market had become more ‘challenging’ following last year’s premiere of the Ocean Casino Resort and Hard Rock Hotel and Casino Atlantic City but that the operator was due to invest in further capital advances such as its recently-launched William Hill sportsbook.
Callender reportedly stated…
“The Tropicana Casino and Resort Atlantic City is built to compete. With the money we’ve invested over the last five or six years, from a diversification standpoint, we outpoint every casino in Atlantic City. There’s just more to do here, more to see and more to be involved with.”