US casino and racetrack operator Penn National Gaming has been approved by the Nevada Gaming Commission to compete its $360m acquisition of the Tropicana Las Vegas casino, the final regulatory hurdle in the process to complete the deal.

Having already been approved in several other jurisdictions in which it operates, Penn National confirmed that plans to close the purchase on Tuesday August 25th.

The deal to acquire the venue was first struck in April this year, with Penn to acquire Tropicana from its shareholders, the largest of which is a partnership between private equity firm Onex and the venue’s chief executive Alex Yemenidjian.

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