Edmonton Journal

Onex, partner to sell Las Vegas resort


TORONTO — Penn National Gaming has reached a definitive agreement to buy the Tropicana casino and hotel resort in Las Vegas for $360 million US from a partnershi­p between Alex Yemenidjia­n and Toronto-based Onex Corp.

Onex Corp. says its portion of the proceeds will be about $50 million US. As of the end of March, Penn National operated 26 facilities in 17 jurisdicti­ons, mostly in the United States. In total, they had 31,000 gaming machines, 759 table games and 3,100 hotel rooms.

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