Tropicana’s window-shop period for merger with Eldorado closes

Tropicana’s window-shop period for merger with Eldorado closes
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The US-based casino and resort operator Tropicana Entertainment has declared that the “window-shop” period provided for its recent merger agreement with the fellow casino operator Eldorado Resorts has expired. The window-shop period ran from April 15, 2018 until Tuesday. Tropicana’s board of directors could have terminated the merger agreement during this period had it received an unsolicited acquisition proposal from a third party.

The agreement was made to merge Tropicana’s gaming and hotel operations Eldorado Resorts while the window also covered the related sale of Tropicana’s real estate to Gaming and Leisure Properties.

Tropicana has received the required approval of the transaction by its stockholders, which was effected through the written consent of American Entertainment Properties, a significant stockholder of the company and a subsidiary of parent company, Icahn Enterprises.

The transaction is expected to close in the second half of 2018, subject to receipt of required gaming approvals, termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. The transaction is not subject to any financing condition.


Source: European Gaming News


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