By Wayne Parry, AP

ATLANTIC CITY, N.J. — Carl Icahn’s company has struck an approximately $1.85 billion deal that would fuse the gaming and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc.

The agreement, announced early Monday, includes the sale of Tropicana Entertainment Inc.’s real estate to Gaming and Leisure Properties Inc. It doesn’t include Tropicana’s Aruba assets, which will be disposed of as a condition to closing.

Eldorado Resorts is acquiring the operating assets of seven casinos in six states, including two in Nevada — the Tropicana Laughlin and MontBleu in Stateline.

Read the whole story