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Subsequent Events
3 Months Ended
Mar. 31, 2015
Subsequent Events.  
Subsequent Events

12Subsequent Events

 

On April 29, 2015, the Company publicly announced its plan to acquire the Tropicana Las Vegas Hotel and Casino for an approximate purchase price of $360 million.  The purchase price will be funded by cash on hand and increased commitments under the Company’s existing senior secured credit facility.  The merger is expected to close in the fourth quarter of 2015, subject to regulatory approvals.  The Tropicana Las Vegas Hotel and Casino is situated on 35 acres of land located on the Las Vegas Strip with 1,467 remodeled guest rooms and suites, a 50,000 square foot casino gaming floor featuring 844 slot and video poker machines and 38 table games including blackjack, mini-baccarat, craps and roulette, three full-service restaurants, a 1,200 seat performance theater, a 300 seat comedy club, a nightclub, beach club and 2,950 parking spaces.  For more information, see the Current Report on Form 8-K filed on April 29, 2015.