With headquarters in Reno, Nevada, Eldorado Resorts LLC holds casino licences in that state and Louisiana. Subject to financing conditions and regulatory approval, the family-run business will acquire Indiana’s first ever casino – Casino Aztar – which opened in December 1995 but now makes less gaming revenue than other Indiana operations.

Kentucky-based Columbia Sussex bought the property in January 2007 and proceeded to cut jobs much as it did at the Tropicana Atlantic City. The Indiana Gaming Commission was asked to investigate whether Columbia Sussex had failed to keep to a staffing agreement, but abandoned the procedure when the company declared it would sell the riverboat casino to avoid bankruptcy.

Yesterday Tropicana Entertainment, LLC, an indirect subsidiary of Tropicana Casinos and Resorts, announced that it had entered a definitive agreement to sell its Casino Aztar property in Evansville to Eldorado Resorts for up to US$245 million, of which US$190 million is a cash consideration. Tropicana intends to use the proceeds to reduce debt. Under an agreement with the Indiana Gaming Commission, Tropicana has agreed to former Harrah’s Entertainment executive Tom Dingman being appointed as trustee to manage the day-to-day operations.

Since 1973, Eldorado Resorts has been a consistent leader in the gaming industry and prides itself on a high level of customer service and a commitment to excellence in gaming, entertainment and dining. “The Eldorado Casinos are a family run business, and that sense of family can be felt throughout our operations,” said company president Gary Carano. He added, “We are very excited to have the opportunity to be part of the great state of Indiana.” (E-04.01.08)

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