The Tropicana Evansville casino is closed today as it prepares to open under a new name Wednesday. The casino is now Bally’s Casino Evansville, which follows Bally’s Corp.’s (NYSE: BALY) June acquisition of the venue from Caesars Entertainment Inc. (Nasdaq: CZR).
The deal had a total value of $480 million. Bally’s acquired the casino for $140 million, which included the rights to the casino’s sports betting operation. An affiliate of Gaming & Leisure Properties acquired the real estate associated with the casino for $340, and is leasing it to Bally’s for $28 million per year.
The casino features 79,000 square feet of space, including 45,000 square feet of casino floor, four restaurants, a race and sportsbook, along with 11,000 square feet of convention space adjacent to the casino and a Riverfront Event Center across the street. The property also includes a 243-room hotel tower and 95-room boutique hotel.
Bally’s Casino Evansville is slated to open Wednesday at 8 a.m. Officials tell our partners at WEHT-TV, the new name will begin appearing on playing cards, dice, poker chips and elsewhere over the coming months.