These tropical climes are inhabited by one-armed bandits and showgirls. Tropicana Entertainment is a casino and riverboat gaming operator with about 10 properties in five states and Aruba. Its flagship property is The Tropicana Casino and Resort in Atlantic City. The portfolio also includes Casino Aztar in Evansville, Indiana and the Belle of Baton Rouge in Louisiana. All total, assets include approximately 6,000 hotel rooms and more than 420,000 square feet of gaming space. Tropicana Entertainment emerged from bankruptcy a newly reorganized company after billionaire investor Carl Icahn took control in 2010. He owns about 60% of Tropicana Entertainment.
In the US, Tropicana Entertainment has properties in Nevada, Indiana, Louisiana, Mississippi, and New Jersey.
The company's revenue decreased by about 6% in fiscal 2013 compared to the previous fiscal period. Net income and cash flow were also down in fiscal 2013 compared to fiscal 2012 levels.
Tropicana Entertainment is constantly remodeling rooms and sections of its casinos as it works to improve it properties and enhance the overall guest experience.
Mergers and Acquisitions
To expand its business, Tropicana Entertainment in mid-2013 agreed to partner with Pinnacle Entertainment to acquire Lumiere Place Casino, HoteLumiere, and the Four Seasons Hotel St. Louis.
Tropicana Entertainment is majority owned by Icahn Enterprises.