Eldorado Resorts Tropicana deal aftermath: Online casino staff get axed

After acquiring Tropicana Entertainment, Eldorado Resorts has cut staff for the NJ online casino.

Job losses have been reported for Tropicana Online Casino NJ in the aftermath of the Eldorado Resorts Tropicana deal.

Earlier in the week, Eldorado Resorts Inc completed a $1.85 billion acquisition of Tropicana Entertainment.

But in a controversial first move, the casino and hotel operator decided to cut staff from Tropicana Atlantic City's NJ online casino team.

Reports suggest that this was due to a no-confidence/interest vote in online gaming by the casino's new owners. Eldorado are yet to comment on the situation.

Gamesys operate Tropicana Online Casino NJ, which generates in excess of $3 million per month. They also manage sister site Virgin Casino, which is also licensed by Tropicana Atlantic City.

The future of the online casino at this point remains unclear, however. It was thought that Eldorado Resorts were looking to embrace internet based gambling prior to the job losses.

Online gambling regardless, the Tropicana acquisition is a major step for Nevada based Eldorado. The merged companies now boast more than $2.7 billion in combined annual revenues. And the deal also gave Eldorado Resorts the keys to seven casino properties in 6 states.

Thanks to the Eldorado Resorts Tropicana deal, the company now controls more than 27,000 slot machines, 800 table games and oversee 20,000 team members.

Gary Carano, Chairman and Chief Executive Officer of Eldorado, said about the deal:

“Our acquisition of Tropicana marks a continuation of Eldorado’s successful history of rapid growth through strategic, accretive acquisitions. Through this combination, we have significantly expanded the scale of our gaming operations, further diversified our geographic reach into new markets – some of which have already adopted sports wagering legislation -- and minimized market-specific risk."

Eldorados recent partnership with William Hill was also mentioned in the statement - highlighting their interest in American sports betting.

Tom Blackwell 27 Aug 2019 View more

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