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A group of shareholders, including private equity firm Onex Corp., say they will sell the 58-year-old Tropicana to the casino operator Penn National Gaming Inc.

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The bankrupt Hooters casino resort in Las Vegas wants to explore alternatives to a forced foreclosure including raising capital, a merger or a sale of the property.Trinity senior principal George Ruff and chief investment officer Al Frazzini did not respond to requests for comment.

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Its other Nevada property, The M Resort, is about 12 miles from the Las Vegas Strip.

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