Bally’s to Acquire Tropicana in Las Vegas for $150 Million (2)

Bally’s Corp. agreed to buy the Tropicana casino in Las Vegas from Gaming & Leisure Properties Inc. for $150 million, part of a flurry of deals by the acquisitive Rhode Island-based gambling operator.

The company is purchasing the operations of the hotel and casino resort, which is located on the Las Vegas Strip, Bally’s said Tuesday. Gaming & Leisure, a real estate investment trust, will continue to own the property and collect rent.

Separately, Bally’s reacheda definitive agreement to buy the online gaming company Gamesys Group Plc for $2.7 billion, advancing a deal announced last month. Bally’s, formerly known ...