Tangent Gaming Announces Acquisition of Horizon Casino Hotel from Carl Icahn’s Tropicana Entertainment Inc.

NEW YORK--(EON: Enhanced Online News)--Tangent Gaming LLC announced today the acquisition of the Horizon Casino Hotel from Carl Icahn’s Tropicana Entertainment Inc., effective March 25, 2011. Terms of the deal were not disclosed.

“Tangent Gaming has been financing gaming facilities, equipment and operators in the United States and Mexico since 2005. We are currently reviewing a number of deals and anticipate continuing to expand our size and reach in the industry”

The casino resort, a 297 foot-long, 36,000 square foot riverboat with multi-level gaming on its first three levels, is set to re-open in May 2011 following extensive renovations. The renovated casino will have 800 new slot and video poker machines, including the popular progressive machines, 20 table games including Craps, Roulette, and various forms of Blackjack and Poker.

“Tangent Gaming has been financing gaming facilities, equipment and operators in the United States and Mexico since 2005. We are currently reviewing a number of deals and anticipate continuing to expand our size and reach in the industry,” said Tangent Gaming Partner Steven Haynes.

“Our collective capabilities and in-depth industry knowledge provides a strong base for expansion, especially in the middle market and Native American segments,” said Tangent Gaming Partner Jim Peet. “We are well-versed in funding gaming opportunities, and offer a solid track record and substantial experience working with both operators and investors to navigate the industry’s legal, regulatory and business issues.”

In addition to Peet and Haynes, the Tangent Gaming team includes Bob Rice. All have long, professional backgrounds in finance, technology, law and corporate management, in addition to gaming experience.

Tangent has teamed up with Great Southern Investment Group on the deal. Great Southern will own and operate the hotel and food service venues. Tangent and Great Southern will jointly market the properties.

ABOUT TANGENT GAMING

Tangent Gaming provides debt or equity for gaming transactions, including slot routes / revenue share machines, expansion project financing, debt restructuring, and casino equity. The firm invests globally and seeks additional opportunities in the United States, Central America, and the Caribbean. For information, see www.tangentgaming.com, send an email to [e-mail] or call [phone].