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Icahn sells Tropicana casinos in $1.85B deal

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Carl Icahn is exiting the majority of the Tropicana Entertainment Inc. casino business.

He agreed to sell six of the eight casino properties in the brand to Gaming and Leisure Properties for roughly $1.2 billion.

Eldorado Resorts Inc. will pay $640 million to take over operations of the casinos. They'll lease the properties from Gaming and Leisure Properties.

Read more from Reuters.

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