After scooping up bankrupt casinos at discount prices, Carl Icahn’s company is cashing in its chips, selling everything in the sector except a small Atlantic City casino that isn’t operating.
Icahn Enterprises LP said Monday it has reached deals to sell its majority-owned subsidiary, Tropicana Entertainment Inc., for $1.85 billion. The company owns about 84% of Tropicana, which operates eight casinos and resorts in the U.S. and Aruba, including its flagship property, Tropicana Atlantic City.
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