River Palms Casino to close temporarily in SeptemberJuly 17, 2014 9:01 AM by Staff & Wire Reports
Tropicana Entertainment Inc. announced its $6.75 million cash sale of River Palms Casino included an immediate lease back transaction with Laughlin Hotel, LLC and Nevada Restaurant Services, Inc., the new owners.
Concurrently with the execution and closing of the asset purchase agreement, CP Laughlin, a subsidiary of Tropicana Entertainment, leased back River Palms for a period of up to ninety (90) days, subject to an additional thirty (30) day extension, and further subject to earlier termination rights. Tropicana intends to terminate the lease and discontinue its operation of River Palms in September 2014.
“We are pleased to announce this transaction today,” said Tony Rodio, president and chief executive officer for Tropicana. “We have had River Palms on the market for some time and upon the closing of this transaction and the discontinuance of our operation of River Palms in September 2014, we will be able to focus our Laughlin efforts exclusively on our flagship property – Tropicana Laughlin.”
Craig Estey, president of Nevada Restaurant Services said, “Nevada Restaurant Services is excited about the opportunity to operate the River Palms in the Laughlin market and looks forward to re-opening the facility quickly after a temporary closure while renovations and improvements are made to the property.”
Tropicana is a publicly traded company that, through its subsidiaries, owns and operates eight casinos and resorts in Indiana, Louisiana, Mississippi, Nevada, Missouri, New Jersey and Aruba. It is not associated with the Tropicana Hotel Casino in Las Vegas.
In light of the September 3, 2014 closure, the company said, all customers at River Palms who are Trop Advantage club members and have earned benefits and rewards will be able to enjoy their rewards at Tropicana Laughlin Hotel & Casino. All benefits and rewards will be honored immediately.
Contact us at Publisher@GamingToday.com.
NCAA Football Betting Primer | Despite a razor-thin loss at Florida State, Notre Dame is still very much alive in the hunt for the college football playoff. The Irish have had two weeks to both get over that last-second defeat in Tallahassee and prepare for Navy.
Sometimes the house doesn’t win as much as it hopes. MGM Resorts International (MGM) earned $40 million less in revenue from its casinos, largely table games, in the third quarter compared to a year ago.
Just three days into the new season, the NBA has its first marquee matchup as the Chicago Bulls host the Cleveland Cavaliers. Tip-off is set for 8:00 p.m. ET at the United Center where the Bulls are favored by -3.5 with the total at 193.5.
Swish's Free Smart Play of the Day | Swish Analytics prides itself on a data-driven system, and unlike most handicappers, we try to give a detailed statistical breakdown of why and how picks are formulated.
A homecoming four years in the making takes place in Cleveland tonight when LeBron James and the new look Cavaliers play host to Carmelo Anthony and the New York Knicks.
- GamingToday Play Free Video Poker
- Ryan Newman biggest mover on Vegas odds boards
- GamingToday Casino Games and Poker
- Be part of the Breeders' Cup seminars
- Follow GamingToday on Twitter
- GamingToday's Bookies Battle the Point Spreads
- Vegas sports books get ready for the NBA season
- GamingToday's Beat the Big Dog football contest
- Like GamingToday on Facebook