Onex to sell Tropicana Las Vegas to Penn National Gaming for $360 mln
Canadian private equity firm Onex Corp has agreed to sell Tropicana Las Vegas to Penn National Gaming Inc, a U.S. operator of casinos and racetracks. The transaction's value is about US$360 million, of which Onex will take about US$50 million. The deal is expected to close later this year. In 2009, Onex partnered with Alex Yemenidjian in buying a majority stake in Tropicana Las Vegas, which operates a hotel and casino resort in Las Vegas, Nevada. According to a Reuters report at the time, the company had recently emerged from bankruptcy protection.
29 April 2015•2 mins read
