User:Tropicana Las Vegas is back on the market.

The move comes less than 10 months after Penn National Gaming (NASDAQ: PENN) sold the property at its famed strip venue to Gaming & Leisure Properties (NASDAQ: GLPI).

Both the venue and Penn's operational rights are currently on sale. CBRE Vice President Michael Parks confirmed that Tropicana is listed and has no official asking price. In March, when the coronavirus pandemic was squeezing the gaming industry, Penn, then cash-strapped, sold ground rentals for its Tropicana properties and properties in Morgantown, Pennsylvania, to GLPI for $337.5 million worth of rent credits.

At the time, transactions were considered critical to the viability of operators. Since then, it has not only been named the best performing game master in terms of rising equity, but it has also become one of the largest casinos in the country by market capitalization.

Game and Leisure, one of three publicly traded game real estate investment trusts (REITs), was spun off from Penn in 2013. Today REITs are the operator's primary landlords.

Parks was a 2019 sales broker for Circus and The Rio.

It's not a surprise Rumors surfaced at the end of 2019 that Penn may be selling the Tropicana, which analysts said at the time could fetch $700 million, more than double what it received in the aforementioned GLPI transaction.

Speculation has resurfaced that the venue is back to shopping, with GLPI also striking a sale-leaseback deal just months after REITs acquired the property. Penn acquired the Streep venue in August 2015 for $360 million.

In October, GLPI CEO Peter Carlino said the company had signed 18 non-disclosure agreements to parties mulling bids for Trope, indicating strong interest. He also noted, "There are a lot of tire kickers out there that aren't necessarily a lot of check writers."

Carino prefers to focus on regional gaming properties and avoid the volatility of Las Vegas. In Nevada, it also owns properties at M Resort, Henderson's Spa & Casino, Laughlin's Tropicana, and Jackpot's Cactus Pete's Casino Resort.

Buyer Unknown…Yet The Tropicana suitors have not been publicly confirmed, but the sale could attract celebrity attention. Golden Nugget boss Tillman Pertita is rumoured to be interested in strip assets. Gaming and Leisure may also go the other way and sell the site to a private equity firm.

Game operators can also collaborate with one of GLPI's competitors to purchase the property. The transaction has been successful in the local market over the past two years.

Among the public companies that could be the suitors of logical Tropicana, BALLY comes to mind. The company is one of the most acquisitive companies in the industry, has easy access to capital, and currently has no Las Vegas presence. 실시간 바카라사이트