Papanier highlighted the company’s expansion, saying the acquisition was part of “our ongoing portfolio diversification strategy.” The company has three other deals in place to acquire four resort-casinos in four states.īally is acquiring Tropicana Evansville in Indiana from Caesars, in partnership with real estate investment trust Gaming and Leisure Properties, for a combined $480 million. He said the company will implement “capital improvement plans to completely renovate the property with first-in-class amenities and offerings.” “We strongly believe in the potential of the Atlantic City market and are confident that we can restore Bally’s to its former glory,” Bally’s CEO George Papanier said in a statement. The corporate name change took effect on Nov. In October, the then-Twin River paid Caesars $20 million for control of the Bally name, brand, and intellectual property.
