Eldorado Resorts has been given temporary approval to own the Tropicana Atlantic City casino while it continues the regulatory process in its efforts to officially take over the property as part of a $1.85 billion acquisition of Tropicana Entertainment, according to a published report.
The New Jersey Casino Control Commission on Wednesday granted interim authority to the Reno, Nev.-based company to own the casino, the Associated Press reported. The agency still must still approve a full casino license for Eldorado.
The sale of seven Tropicana Entertainment casinos in six states is expected to close early in the fourth quarter, the AP reported. Billionaire investor Carl Icahn agreed to the sale in April.
The Tropicana was No. 2 among Atlantic City casinos in annual gambling revenue as of the end of 2017, trailing only the Borgata Hotel Casino & Spa, the AP reported.