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Tropicana Entertainment agrees to acquire Lumiere Place Casino and hotels in St. Louis

19 Aug 2013

LAS VEGAS (PRESS RELEASE) -- Tropicana Entertainment, Inc. ("Tropicana") announced that it has entered into an agreement with Pinnacle Entertainment, Inc. to acquire Lumiere Place Casino, HoteLumiere and the Four Seasons Hotel St. Louis (collectively, "Lumiere").

"We are delighted to enter the St. Louis gaming market," said Tony Rodio, Tropicana's president and CEO. "Lumiere is a premier property in an excellent downtown location. We look forward to providing a world class experience to our guests, and working with the surrounding community to continue to make downtown St. Louis a vibrant and exciting place to visit."

"We are happy that Tropicana, which Icahn Enterprises purchased out of bankruptcy only three years ago, is now profitable and will have expanded to nine casino properties," said Carl C. Icahn, Tropicana Entertainment chairman. "We hope to continue to make judicious acquisitions in the future."

The transaction is conditioned on the receipt of regulatory approvals from the Federal Trade Commission and the Missouri Gaming Commission, as well as customary closing conditions, and is expected to close in early 2014.
 
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