Rumors of a Las Vegas Tropicana Sale Are Circulating

Over the past year, several of the biggest and most popular hotel-casinos in Las Vegas have been sold. Many companies are now focused on selling properties and reinvesting the money earned into new properties domestically and abroad. This week, rumors of a Las Vegas Tropicana sale began to circulate.

Tropicana Las Vegas

As of now, these are still just rumors. Penn National Gaming, which owns the hotel-casino, has not officially confirmed this sale. Today, we’re going to talk about the history of this popular venue, and why it could soon be sold.

Let’s get into it!

History of the Tropicana Las Vegas Hotel & Casino

For decades, the Tropicana in Las Vegas has been a popular venue for tourists looking to save a little money. Its prices are fantastic, yet the hotel still offers a fantastic casino floor and some solid amenities. It’s impressive, considering it’s been around since 1957.

Back in 1955, Ben Jaffe came up with plans to open a new venue on the Las Vegas Strip. Before long, construction began on this venue and in 1957, it officially opened up. Over the first few years of opening, this property changed hands several times. Las Vegas city officials raised concerns that the owners had ties to organized crime.

By the 1970s, the Tropicana Las Vegas was struggling financially. Major hotel-casinos such as Caesars Palace were attracting the majority of visitors. By 1978, mob activities once again took over Tropicana.

Columbia Sussex acquired Aztar, which owned Tropicana Las Vegas, in 2007. The company then announced a massive $2 billion renovation which was scheduled to be completed in 2010. The financial crisis eventually put a hold on these plans.

In August of 2015, Penn National Gaming purchased this hotel-casino for $360 million. Hope was that this company could finally turn things around. It now appears another sale is on the horizon. Rumors of a Las Vegas Tropicana sale have been circulating for the past few days.

Is the Las Vegas Tropicana Sale Taking Place in 2020?

This isn’t the first time people have speculated about a Las Vegas Tropicana sale. This hotel-casino continues to struggle against some of the other, larger venues in the city. Rumors of this sale first appeared back in October.

This week, Vital Vegas announced that the sale was nearing completion. Officials within Penn National Gaming refused to comment on the rumors. Nevertheless, many are claiming that this sale will be completed sometime in 2020.

If this sale is completed, it will be the first Las Vegas Strip venue sale of 2020. As we already mentioned, Penn National acquired the property in 2015 for $360 million. Analysts claim that the company could earn $700 million from a Las Vegas Tropicana sale.

It’s still unclear which company will purchase this venue. Several major companies have expressed interest in acquiring a Las Vegas Strip property.

Penn National Gaming is still dealing with billions of dollars in liabilities. Selling the Tropicana could help to put a serious dent in this debt. We’ll need to wait and see whether or not the company decides to officially put this venue on the market.

More Las Vegas Strip Properties Are Coming in 2020

The Las Vegas Tropicana sale seems highly likely for 2020. This is probably not going to be the only Las Vegas Strip sale taking place this year. Based on the way things have been going, there will be several more of these sales that take place in 2020.

MGM Resorts International is still considering more property sales. Last year, this company sold both Circus Circus and The Bellagio. The latter earned the company $4.2 billion, making it the largest hotel-casino sale in Las Vegas history.

Officials within MGM Resorts claim they are interested in putting more of their major venues up for sale soon. This company is focused hard on breaking into Japan. In order to do this, the company needs capital and property sales are the best way to acquire the money.

The Las Vegas Strip is changing fast. Over the next few years, several brand new hotel-casinos will open here. It’s an exciting time for locals and tourists in the city.

Stay tuned for more Las Vegas casino news over the next few months!

Summer Cookout Featuring Robert Irvine at Tropicana Las Vegas

If you like barbecue and you happen to be in Las Vegas on Thursday, June 13, make sure to check out the event called Summer Cookout featuring Robert Irvine. This will be the third annual Summer Cookout event, which has already managed to grab the attention of many food lovers. The cookout will be set at Tropicana Las Vegas, and guests are invited to visit the event and dine out and enjoy the tasty meals. However, they will also take part in increasing awareness and raising funds for the Three Square Food Bank.

Chef Robert Irvine will make sure to provide his guests with an outstanding dining experience. There will be a wide variety of dishes inspired by summer, and guests will have an opportunity to indulge in these specialties throughout the evening. Furthermore, there will be plenty of refreshing drinks. Both food and drinks are provided as a courtesy of restaurants such as Trago Lounge, Red Lotus Asian Kitchen, Robert Irvine’s Public House, and Oakville Steakhouse. Moreover, the guests will have a chance to enjoy competition in an interactive cooking and can take part in a live and silent auction. In fact, there will be plenty of other interesting activities, and if you are interested to check them all out, make sure to visit this event.

One of the main attractions for the Summer Cookout featuring Robert Irvine will be the special performances of some of the best Frank Sinatra tribute artists who are a part of Legends in Concert.

When it comes to the menu for the day, some of the dishes that you will have an opportunity to try are Wagyu beef sliders with a Public House sauce and micro watercress, baby tomato and creamy burrata with balsamic pearls, a lot of different mini pizzas, orange and chocolate pops, hamachi poke parfait with unagi sauce, hickory smoked dry rubbed baby back ribs with a Public House barbecue sauce, and more.

The main sponsor for the Summer Cookout Featuring Robert Irvine is Golden Road Brewing, but the event will also include a couple of other sponsors such as WAXIE, Moneytree, Fever-Tree, Empress 1908 Gin, and Ambros Banana Whiskey.

When it comes to the ticket prices, you will have an opportunity to acquire regular ones for $50 that enable general admission. However, if you are interested in getting there earlier and meeting with Chef Irvine himself, you can obtain VIP entry tickets for $100 and enter at 6 pm for the meet and greet session with him. The Summer Cookout featuring Robert Irvine will officially start at 7 pm and last until 10 pm at Robert Irvine’s Public House, which is located at Tropicana Las Vegas. You can buy tickets at the Tropicana box office, or you can call (800) 829-9034. You can also check for the tickets on the web.

Everything that is earned that evening will also benefit Three Square and its effort to put an end to hunger in Southern Nevada. Restaurants in Las Vegas have an opportunity to display their culinary arts during the Las Vegas Restaurant Week and thus contribute to the cause. Three Square has managed to provide more than five million meals for people who struggle with hunger. The Restaurant Week in Las Vegas will start on June 17 and last until June 28. Therefore, if you are interested in helping those in need, you can contribute to the cause and have an opportunity to try tasty meals yourself. That way, you will not only fill your belly but also the bellies that have been empty for some time.