“We are pleased to announce this transaction today,” said Tony Rodio, President and Chief Executive Officer for Tropicana. “We have had River Palms on the market for some time and upon the closing of this transaction and the discontinuance of our operation of River Palms in September 2014, we will be able to focus our Laughlin efforts exclusively on our flagship property – Tropicana Laughlin.”
“Nevada Restaurant Services is excited about the opportunity to operate the River Palms in the Laughlin market and looks forward to re-opening the facility quickly after a temporary closure while renovations and improvements are made to the property,” said Craig Estey, President of Nevada Restaurant Services.
Tropicana is a publicly traded company that, through its subsidiaries, owns and operates eight casinos and resorts in Indiana, Louisiana, Mississippi, Nevada, Missouri, New Jersey and Aruba. Tropicana properties collectively have approximately 5,500 rooms, 8,000 slot positions and 270 table games. The company is based in Las Vegas, Nevada.
Cautionary Note Regarding Forward-Looking Statements. This press release contains statements relating to the Company’s plans, objectives, expectations and intentions, events and plans that are forward-looking statements. Forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release. Such statements include, without limitation, statements regarding the Company’s sale and lease-back of its River Palms casino to Nevada Restaurant Services, Inc. and its affiliate, Laughlin Hotel, LLC, the anticipated benefits to the Company of such sale, and the Company’s expectation regarding the Laughlin, Nevada gaming market. These forward-looking statements are based upon assumptions made by the Company as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, without limitation, that the Company may not realize the anticipated advantages of the sale, and the additional risk factors described in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.