Tropicana Atlantic City, a subsidiary of US-based Tropicana Entertainment, has acquired Chelsea Hotel in Atlantic City, New Jersey.
Tropicana Entertainment intends to integrate the newly-acquired property, which is located directly across Morris Avenue from Tropicana Atlantic City, into Tropicana Atlantic City's current operations as ‘The Chelsea Tower at Tropicana Atlantic City’.
Expecting to open for guests in August this year, the new Chelsea Tower will remain subject to local property taxation.
Tropicana Entertainment president and chief executive officer Tony Rodio said: “We are pleased with this acquisition and the opportunity to offer our guests more hotel room options on The Boardwalk.
“The Chelsea Tower is a great addition to our four existing hotel towers at Tropicana Atlantic City. Guests will be able to enjoy a boutique hotel feel while having full access to all resort options at Tropicana Atlantic City.”
The Chelsea Tower will comprise a 20-storey oceanfront hotel tower and an adjoining low rise hotel structure with about 330 rooms.Currently, Tropicana Entertainment is in the process of developing plans for additional capital enhancements to the facility, including connecting The Chelsea Tower to Tropicana Atlantic City through a skyway bridge by next year.
A publicly traded company that is based in Nevada, Tropicana Entertainment through its subsidiaries, owns and operates eight casinos and resorts in Indiana, Louisiana, Missouri, Mississippi, Nevada, New Jersey and Aruba. Tropicana is a majority-owned subsidiary of Icahn Enterprises.
A 24-hour gaming destination, Tropicana Atlantic City features just under 2,400 hotel rooms and is home of The Quarter, a 200,000ft2 entertainment complex.