The Tropicana is actually owned by Penn Gaming, which is the operator of the Hollywood Casino properties around the country, and this ownership opens up their gaming rewards program and its generous sign-up benefits. The hotel casino is showing its age, both in the public spaces and in the rooms which detracts when comparing to other Strip properties. I recall visiting the LV Tropicana in the 1980s and its Atlantic City property about the same time. casinos which dates to the pre-mega casino resort era. The Tropicana Las Vegas is one of the storied Las Vegas Blvd.