Big News in Vegas, Business as Usual in Aruba

On Monday, I read that Icahn Enterprises L.P. announced that its majority-owned subsidiary, Tropicana Entertainment Inc. entered into a definitive agreement to sell Tropicana’s real estate to Gaming and Leisure Properties, Inc. and to merge its gaming and hotel operations into Eldorado Resorts, Inc. for aggregate consideration of approximately $1.85 billion.

Billionaire investor Carl Icahn has agreed to sell Tropicana Entertainment’s hotel real estate and operations after becoming interested in it in 2008 and buying it in 2010 from bankruptcy. He invested blood, sweat and tears, turned the business around successfully and was proud to announce the sale on Monday.

HOWEVER, the transaction does not include Tropicana’s Aruba assets, which remain within the original holding company.

General Manager Richard Roy reports that it’s business as usual in Aruba. The Tropicana Resort here is knee-deep in renovations, having already upgraded 91 of its rooms and another one hundred are currently undergoing a facelift.

Of the 362 resort rooms about 60% are occupied by timeshare owners and exchanges via Interval International in the high season and about 20% in the off season. The balance of guests are transient travelers who love the resort’s Eagle beach location. The Double Down Sports Bar & Grill at the casino offers all day dining and gaming and Uncle Tony’s pizza in a fun spot to grab a bite, on the pool deck.

“We’re selling fixed vacation weeks in house, at a steady pace,” says Richard, “our vacation villas are comfortable and spacious, and boast full kitchens, but if you don’t want to cook, Double Down offers delicious dining and room service, and Superfood, as you know, is located just across the street.”

“We want to assure our guests and our 250 employees that we will look after their interest, and deliver as always, excellence in hospitality, fun in gaming and consistent value,” he adds.  

 

https://globenewswire.com/news-release/2018/04/16/1471887/0/en/Icahn-Enterprises-L-P-Announces-Definitive-Agreement-to-Sell-Tropicana-Entertainment-Inc-for-1-85-Billion.html

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April 18, 2018
Rona Coster