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1. Tropicana (2,357 slot machines): 90.5% For March 2020, the highest return for players went to the Borgata at 92.0% followed closely by Bally’s at 91.8% and Harrah’s at 91.7%. The lowest return went to Ocean at 90.0% closely followed by Hard Rock and Resorts at 90.4%.
2. Slot machines are such mainstays of modern casinos and slot games so widely played online today that you might think it’s always been so. But everything has its beginnings, and slots have evolved over the last 120 years. The first three-reel slot machine had a maximum jackpot of half an American dollar.

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EVANSVILLE, Ind. —Tropicana is being sold for $480 million to Gaming and Leisure Properties and Twin River Worldwide Holdings.

On Tuesday, Caesars Entertainment, Inc., announced an agreement to sell Tropicana to Gaming and Leisure Properties and Twin River Worldwide Holdings.

'I want to thank all of our Evansville Team Members for their hard work and dedication, especially during the COVID-19 pandemic, and we wish them the best under Twin River's ownership,' said Tom Reeg, CEO of Caesars Entertainment, Inc.

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Earlier this year, it became clear Tropicana would more than likely be sold following Eldorado Resorts' acquisition of casino giant Caesar's Entertainment.

The combined company now operates under Caesars Entertainment Inc.

In July, the Indiana Gaming Commission approved the $17.3 billion merger with conditions.

At the time, Eldorado Resorts was the owner of Tropicana Evansville. And Caesar's had four Indiana locations: Hoosier Park in Anderson, Horseshoe Casino in Hammond, Indiana Grand in Shelbyville and Caesar's Southern Indiana in Elizabeth.

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To address concerns about the company's market concentration, Eldorado officials agreed they would divest three Indiana properties and would have definite agreements for those divestitures on or before Dec. 31.

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By the commission's projections, the merger as originally proposed would result in Caesars Entertainment Inc. controlling between 50% to 60% of gaming revenues in Indiana. By divesting at least two of those properties it would fall to at or below 40%.

The sale of Tropicana is expected to close in mid-2021 and is subject to regulatory approvals and other customary closing conditions.

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Gaming and Leisure Properties and Twin River Worldwide Holdings will have full ownership of Tropicana Evansville and the ability to sell it in whole.

Twin River Worldwide Holdings, based in Lincoln, Rhode Island, owns and manages a total of nine casinos located in Rhode Island, Mississippi, Delaware and Missouri, as well as a horse race track in Colorado.

Per this deal, Twin River will be acquiring the operating assets of Tropicana for $140 million.

Gaming and Leisure Properties, based in Wyomissing, Pennsylvania, is in the business of acquiring, financing and owning real estate property to be leased to gaming operators. Per this deal, it will acquire the casino real estate for $340 million and lease it back to Twin River for $28 million a year in rent, subject to escalation.

Twin River will also acquire unencumbered rights to the sports betting and iGaming skins associated with the Evansville operations to access the growing Indiana market as part of the transaction.

'This transaction is consistent with our core strategy of acquiring strategic gaming assets at attractive valuations and, importantly, represents the Company's entry into a 10th state. It also provides us with access to an attractive Indiana gaming market, in which we will look to significantly advance our mobile and online sports betting and iGaming initiatives,' said George Papanier, President and Chief Executive Officer in a news release.

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'We believe this property is a great fit for our portfolio. We are acquiring the operations at a value accretive multiple, while also enhancing our interactive offerings.'

This article originally appeared on Evansville Courier & Press: Tropicana Evansville being sold by Caesars Entertainment

Located on the most hotel dense corner of the Las Vegas Strip, the Tropicana is a Las Vegas landmark. The Tropicana was built in 1957 and has been a mainstay on the strip since then.

James Bond even stayed there in the film Diamonds are Forever. While many other casinos on the strip have been destroyed to make way for newer, flashier modern theme casinos, The Tropicana has managed to remain a classy classic, a living part of Las Vegas history.

It is one of the places you must see in Vegas if only for the chance to live a part of the rich Vegas history.

The casino is themed for Palm Beach, Florida and carries through a tropical theme (as the name implies) throughout the casino and resort. However, the décor is much more subtle than some of the more modern iterations of the casinos on the strip.

This doesn’t seem to stop anyone from enjoying it, though. The Tropicana is known for its part in Vegas history and it is really known for its gaming experience.

Like many Las Vegas casinos, the slot machines are very popular at the Tropicana Resort and Casino.

Slots are just plain fun and there are many slots to choose from. With 13,000 machines to choose from, there is a game, or type of game to suit every type of player. If you are trying to save money you can spend your time at the penny or nickel slots. But high rollers can play machines that require a minimum bet of $100 or more.

You will also find themed slots machines such as Elvis and Wheel of Fortune. These games bring an added level of fun and excitement to the Tropicana Resort and Casino slot machines.

After you've played the slots, head to the table games for a different kind of fun! There are nearly fifty game tables on the 61,000 square foot casino floor.

The tables at Tropicana Las Vegas are renowned across the globe for their exciting, dynamic fun. When you sit down at one of the tables with a pile of chips you will be immersing yourself in a classic Vegas experience.

Classic Blackjack, Craps tables and continually spinning Roulette wheels. Or you can try the contemporary casino games that have become so popular because of their fast action. You can enjoy Let it Ride Poker, 3 Card Poker, or Pai Gow Poker.

In order to maximize your gaming experience The Tropicana invites you to participate in their Winners Club program. It cost nothing to join and the application process is easy.

Once a member, you can earn great rewards by playing the games you would normally be playing anyway! You get new member bonuses as soon as you sign-up, you can also earn free rooms or free meals plus get invited to special events and promotions.

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The Tropicana wants to reward you for your loyalty so be sure to use your card every time you play. Don't miss out on these free rewards.

If you are visiting the Las Vegas strip, go ahead and check out the theme based casinos, play a few games and have a good time looking at all the neat decorations and shops

But, when you want to play in one of the casinos that built the Las Vegas Strip (indeed the city of Las Vegas itself) then head over to the Tropicana and see what it's like to play in a casino that's famous for its games not its décor and shows!

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Play some slots and definitely sit down at one of their Blackjack, Craps, Baccarat, or Roulette tables. These are the games that built the Tropicana and Las Vegas itself.