Penn puts focus on Tropicana
August 03, 2016 8:30 AM
by Phil Hevener
Penn National expects to remain alert to the possibilities for other acquisitions even as it pumps about $200 million into improvements at its Las Vegas Tropicana over the next two or three years.
Penn President Tim Wilmott made it clear during a conversation with financial analysts, “We have very good knowledge of almost all the good assets that are available in the United States. If we see something out there that represents an opportunity we can improve on, we’ll be prepared to look at it quickly.”
In the meantime, Wilmott said the company will not relax its intention to make the Tropicana competitive at one one of the most competitive intersections along Las Vegas’ Strip corridor.
Any strategy that accepts less than this kind of commitment, Wilmott said, “will lead us to a non-competitive product and missing revenue.” The Trop needs more non-gaming offerings if it is to fully satisfy the expectations of travelers who choose to visit the Strip