Tropicana Evansville will reopen as Bally’s Evansville Wednesday, four months after Bally’s Corp. completed its acquisition of the Indiana casino for a total $480m.
Bally’s entered into an acquisition agreement for the casino last October when the company still went by its former name, Twin River Worldwide Holdings. Bally’s paid Caesars Entertainment $140m for the property.
As part of the deal, an affiliate of Gaming & Leisure Properties, Inc. acquired the real estate with the casino for $340m. GLPI is leasing the real estate to Bally’s for $28m per year, subject to escalation.
The newly named Bally’s Evansville includes 79,000 square feet of enclosed space, a 45,000 square feet of casino floor, four dining venues, a race and sportsbook, and back of house space. The complex also offers 11,000 square feet of convention space adjacent to the casino, and a Riverfront Event Center located across the street, which includes 10,000 square feet of convention space overlooking the Ohio River. Accommodations include a 243-room hotel tower and a 95-room boutique hotel.
George Papanier, President and Chief Executive Officer of Bally's Corporation, said at the time of the acquisition’s completion, "The Tropicana Evansville acquisition closing marks another major accomplishment in what has already been a truly remarkable year for Bally's. As we continue to implement our growth and diversification strategy with precision, we are excited to welcome the Tropicana Evansville into the Bally's family and look forward to the opportunity to provide our first-in-class land-based and interactive entertainment offerings to the Indiana gaming market."
Bally’s Evansville was closed Tuesday as it underwent brand renovations. The casino was formerly Casino Atzar before it became Tropicana Evansville in 2013.