News

Tropicana sale to Wyomissing's Penn National gains approval

Written by The Associated Press | Aug 21, 2015 1:56 AM
tropicana_penn_national.jpg

FILE PHOTO: Sunlight illuminates a sign at the Tropicana hotel and casino in Las Vegas. Penn National is buying the Tropicana Las Vegas hotel and casino and says it expects to spend some $200 million on the 58-year-old hotel two years from now. (AP Photo/John Locher)

(Las Vegas) --  Nevada gambling regulators say Penn National Gaming's $360 million purchase of the Tropicana Las Vegas hotel and casino can move forward. 

The state's five-member Gaming Commission has voted unanimously to approve the deal for the 58-year-old casino. 

Wyomissing-based Penn National has long sought a casino on the Las Vegas Strip.

The Berks County company owns or operates 21 other casinos across the country including the M Resort Spa Casino in nearby Henderson, Nevada. 

Penn National announced its deal to buy the Tropicana with Onex Corp. in April.

Executives have said they plan to spend $200 million eventually on improvements after spending an initial $20 million in the next two years on technology to link the casino to its gambler loyalty program with three million members and add newer slots.  

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