Gaming and Leisure Properties Inc., which owns the 35-acre Tropicana hotel casino on the Las Vegas Strip, has reported plenty of interest in purchasing the property that it recently announced is for sale.
CEO Peter Carlino revealed, “There’s a lot of tire kickers, not necessarily a lot of check writers, but we’re surprised by the activity,” during a third-quarter earnings call.
GLPI bought the land under the casino from Penn National Gaming in April for $307.6 and leases it back to Penn. It reopened two months ago after being closed by the pandemic since March.
According to Carlino, Penn’s steady on commitment to keeping the property open means GLPI can look at each deal without pressure.
The Tropicana has laid off hundreds of employees since March, followed by 702 furloughs on October 15 with another 132 on the chopping block beginning two days before Christmas.
