Amendment No. 1 and Joinder to Purchase and Sale Agreement, dated October 1, 2018, by and among Tropicana Entertainment Inc., GLP Capital, L.P. and Eldorado Resorts, Inc

Exhibit 10.1

AMENDMENT NO. 1 AND JOINDER

TO PURCHASE AND SALE AGREEMENT

This AMENDMENT NO. 1 AND JOINDER to Purchase and Sale Agreement (this “Amendment”) is entered into, effective as of October 1, 2018, by and among Tropicana Entertainment Inc., a Delaware corporation (the “Company”), GLP Capital, L.P., a Pennsylvania limited partnership (“Gamma”) and Eldorado Resorts, Inc., a Nevada corporation (“Parent”).

WHEREAS, the Company and Gamma are parties to that certain Purchase and Sale Agreement (the “Purchase Agreement”) dated April 15, 2018, pursuant to which the Company agreed to cause certain of its subsidiaries to sell, and Gamma agreed to purchase (directly or indirectly), certain real estate property as described therein, including the property located in St. Louis, Missouri owned by Tropicana St. Louis, LLC and more particularly described in Exhibit B-3 thereof (the “Lumiere Property”), subject to the terms and conditions set forth therein;

WHEREAS, the Company, Gamma and Parent desire to amend the Purchase Agreement to provide for the acquisition of the Lumiere Property by Parent or its designee, rather than by Gamma and for Parent to become a party to the Purchase Agreement; and

WHEREAS, in accordance with Section 6.12 thereof, the Purchase Agreement may be amended by the Company and Gamma if such amendment is effected by an instrument in writing signed on behalf of each of Gamma and the Company, and Parent has consented in writing to such amendment.

NOW THEREFORE, in consideration of the mutual promises and agreements set forth herein, the parties hereto agree as follows:

1. Definitions. All capitalized terms not defined herein shall have the meaning ascribed to them in the Purchase Agreement. In the event of a conflict between the capitalized terms defined and set forth in this Amendment and the defined terms of the Purchase Agreement, the definitions set forth in this Amendment shall control.

2. Amendments. The Purchase Agreement is hereby amended as follows, in each case effective as of the date hereof:

(a) The second sentence of the Purchase Agreement shall be amended by adding “, Parent” after the word “Company”.

(b) Section 1.1 shall be deleted in its entirety and replaced with the following:

“Section 1.1 Purchase and Sale of Purchased Assets

(a) Upon the terms and subject to the conditions of this Real Estate Purchase Agreement, at the RE Closing the Company shall cause the RE Sellers (excluding the Lumiere RE Sellers), the RE Lessees and the Entity Sellers to sell, assign and transfer to Gamma (or its designee), and Gamma will (or will cause its designee to) purchase, acquire and accept from such RE Sellers, the RE Lessees and the Entity Sellers the

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following assets, properties, rights, Contracts and claims of such RE Sellers, the RE Lessees and the Entity Sellers, wherever located, whether tangible or intangible, and all right, title and interest thereto and thereunder free and clear of all Liens, other than Permitted Liens (collectively, (i)—(iv) below, the “Gamma Acquired Assets”):

(i) the Gamma Conveyed Properties;

(ii) the Ground Leased Properties;

(iii) the Propcos; and

(iv) the benefits, rights, rights of Action and claims (express or implied) to the extent related to the Gamma Conveyed Properties, the Ground Leased Properties or the Propcos.

(b) Upon the terms and subject to the conditions of this Real Estate Purchase Agreement, at the RE Closing the Company shall cause the Lumiere RE Sellers to sell, assign and transfer to Parent (or its designee), and Parent will (or will cause its designee to) purchase, acquire and accept from the Lumiere RE Sellers the following assets, properties, rights, Contracts and claims of the Lumiere RE Sellers, wherever located, whether tangible or intangible, and all right, title and interest thereto and thereunder free and clear of all Liens, other than Permitted Liens (collectively, (i)-(ii) below, the “Parent Acquired Assets”, and together with the Gamma Acquired Assets, the “Transferred Real Estate Assets”):

(i) the Parent Conveyed Properties; and

(ii) the benefits, rights, rights of Action and claims (express or implied) to the extent related to the Parent Conveyed Properties.”

(c) Section 1.2 shall be amended by inserting an “(A)” at the beginning of the first sentence thereof, and inserting the words “(excluding the Lumiere RE Sellers)” immediately following the words “RE Sellers” appearing in the third line thereof.

(d) Section 1.2(b) shall be amended by replacing the words “Transferred Real Estate Assets” appearing in the fifth line thereof with the words “Gamma Acquired Assets”.

(e) Section 1.2(d) shall be amended by replacing the words “zoning and land use Laws relating to the Properties (collectively, the “RE Laws”)” appearing in the first and second line thereof with the words “RE Laws relating to the Gamma Conveyed Properties”.

(f) A new clause (B) shall be added at the end of Section 1.2, as follows:

“(B) On the Closing Date, Parent shall deliver to the Company an instrument of assumption pursuant to which Parent shall assume and discharge all of the Liabilities of the Company and the RE Sellers relating to the Parent Conveyed Properties (other than the Excluded Liabilities) relating to the following:

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(a) all Liabilities for (i) property and ad valorem Taxes, assessments, sewer rents and similar charges assessed with respect to the ownership of real estate (including interest and penalties) attributable to or imposed upon the Parent Conveyed Properties for any taxable period (whether before or after the RE Closing) and (ii) transfer, stamp, documentary, recording or similar Taxes payable as a result of the sale of the Parent Acquired Assets pursuant to this Real Estate Purchase Agreement (whether such Taxes are imposed on transfers of assets or on transfers of equity);

(b) all Environmental Liabilities relating to the Parent Conveyed Properties; and

(c) all Liabilities for violations of RE Laws relating to the Parent Conveyed Properties.”

(g) Section 1.3 shall be amended by replacing the words “Gamma will not have any” appearing in the third line thereof with the words “neither Gamma nor Parent, as applicable, will have any”.

(h) Section 2.1(b) shall be deleted and replaced in its entirety with the following:

“(b) At the RE Closing, (i) as consideration for the Gamma Acquired Assets, Gamma shall pay, by wire transfer of immediately available funds, $964,000,000 (the “Gamma Real Estate Purchase Price”) and (ii) as consideration for the Parent Acquired Assets, Parent shall pay, by wire transfer of immediately available funds, $246,000,000 (the “Parent Real Estate Purchase Price”, and together with the Gamma Real Estate Purchase Price, the “Real Estate Purchase Price”), in each case to the Company, or at the Company’s direction, Gamma and Parent, respectively, shall cause the Real Estate Purchase Price to be deposited with the Paying Agent.”

(i) Section 2.2 shall be amended by inserting the word “Gamma” immediately prior to the word “Real” in the first line thereof.

(j) Section 2.3 shall be amended by inserting the phrase “, or Parent or its designee, as applicable,” immediately following the word “designee” appearing in the second line thereof.

(k) Section 2.3(b) shall be amended by inserting the phrase “or Parent (or its designee), as applicable, in each case” immediately preceding the word “subject” appearing in the last line thereof.

(l) Section 2.3(f) shall be amended by replacing the words “or its or its designee’s agents” appearing in the sixth line thereof with the words “, Parent, their respective designees or their respective designees’ agents”.

(m) The following shall be added as a new Section 2.3(l):

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“(l) bills of sale, in customary form and substance reasonably satisfactory to Gamma, the Company and Parent, duly executed by Catfish Queen Partnership in Commendam, a Louisiana partnership (“Catfish Queen”), conveying all of Catfish Queen’s right, title and interest in the vessels described on Exhibit C attached hereto to Gamma (or its designee), subject only to Permitted Liens.”

(n) The following shall be added as a new Section 2.4:

“Section 2.4 Parent’s Additional Closing Deliverables.

At the RE Closing, in addition to the payment of the Parent Real Estate Purchase Price required by Section 2.1(b), Parent shall deliver to the Company all of the following:

(a) if applicable, duly completed and signed real estate transfer Tax forms; and

(b) without limitation by specific enumeration of the foregoing, all other customary documents reasonably required from Parent and its Subsidiaries to consummate the Real Estate Purchase of the Parent Conveyed Properties.”

(o) The last two sentences of Section 3.1 shall be deleted and replaced in their entirety with the following:

“Gamma, Parent, the Company and the Significant Stockholder shall file all tax returns, and take all positions for tax purposes, consistent with the foregoing allocation, except in each case as otherwise required by a final determination within the meaning of Section 1313 of the Code. Gamma, Parent, the Company and the Significant Stockholder shall make appropriate adjustments to the allocation to reflect any items treated as adjustments to the Real Estate Purchase Price pursuant to Section 3.2.”

(p) Section 4.2 shall be deleted and replaced in its entirety with the following:

“Section 4.2 Additional Conditions to Obligation of Gamma and Parent.

The respective obligations of Gamma and Parent to effect the RE Closing, as applicable, are subject to the satisfaction of each of the following conditions on or prior to the Closing Date, any of which may be waived in whole or in part in a writing executed by Gamma or Parent, as applicable:

(a) Merger Agreement Conditions. The conditions set forth in Section 7.3 of the Merger Agreement shall have been satisfied or waived in accordance with Section 7.3 of the Merger Agreement.”

(q) Section 4.4 shall be amended by replacing the words “Neither Gamma nor the Company” appearing in the first line thereof with the words “None of Gamma, Parent or the Company”.

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(r) Section 4.5 shall be deleted and replaced in its entirety by the following:

“Section 4.5 Rescission.

Notwithstanding the foregoing, if for any reason the RE Closing occurs and the Merger is not consummated in accordance with Article 2 of the Merger Agreement, this Real Estate Purchase Agreement and those instruments delivered in order to effect the consummation of the transactions contemplated by this Real Estate Purchase Agreement shall automatically be voidable or revocable by either Gamma or Parent, on the one hand, or the Company, on the other hand, for twenty-four (24) hours from the RE Closing, and if Gamma, Parent or the Company elects to void or revoke this Real Estate Purchase Agreement within such twenty-four (24) hour period, the parties hereto shall immediately take or cause all actions to provide for the rescission of the consummation of the transactions consummated hereby; provided, however, that if this Real Estate Purchase Agreement is rescinded pursuant to this Section 4.5, then Gamma and Parent, as applicable, shall reimburse the Company for any and all transfer, stamp, documentary, recording or similar Taxes payable and actually incurred by the Company as a result of the rescission of this Real Estate Purchase Agreement (whether such Taxes are imposed on transfers of assets or on transfers of equity) related to the Transferred Real Estate Assets.”

(s) Section 6.1 shall be amended by the addition of the following defined terms in alphabetical order:

“Gamma Conveyed Properties” means the Conveyed Properties numbered 1, 2, 6, 7, 8 and 9 on Exhibit B attached to the Purchase Agreement.

“Lumiere RE Sellers” means, collectively, Tropicana St. Louis, LLC, TEI (ES), LLC, and TEI (ST. LOUIS RE), LLC, each a Delaware limited liability Company.

“Parent Conveyed Properties” means the Conveyed Properties numbered 3, 4 and 5 on Exhibit B attached to the Purchase Agreement.

“RE Laws” means zoning and land use Laws relating to the Properties.

(t) Section 6.2 shall be amended by inserting the phrase “, Parent” immediately following the word “Company” appearing therein.

(u) Section 6.3 shall be amended by inserting the phrase “, Parent” immediately following the word “Company” appearing therein.

(v) Section 6.9 shall be deleted in its entirety and replaced with the following:

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“Section 6.9 Assignment.

Neither this Real Estate Purchase Agreement nor any of the rights, interests or obligations under this Real Estate Purchase Agreement shall be assigned, by operation of Law or otherwise, in whole or in part, by any of the Parties without the prior written consent of the other Parties; provided, however, that Gamma or Parent may assign any of their respective rights, interests and obligations hereunder to their respective Affiliates; provided that Gamma and/or Parent, as the case may be, shall not be relieved of any obligations hereunder until fully performed by such assignee and, pursuant to Section 1.1 of the Merger Agreement, Gamma and/or Parent, as the case may be, shall guarantee all of the obligation of its designee under this Real Estate Purchase Agreement. Any attempted or purported assignment in violation of the preceding sentence shall be null and void and of no effect whatsoever.”

(w) Section 6.12 shall be amended by inserting the phrase “, Parent” immediately following the word “Company” appearing in the first line thereof.

(x) Section 6.13 shall be deleted in its entirety and replaced with the following:

“Section 6.13 Extension; Waiver.

At any time prior to the RE Closing, the Parties may, (a) extend the time for the performance of any of the obligations or other acts of the others, (b) waive any breach of the representations and warranties of the others contained herein or in any document delivered pursuant hereto or (c) waive compliance by the others with any of the agreements or covenants contained herein.”

(y) Section 6.16 shall be deleted in its entirety and replaced with the following:

“Section 6.16 Investigations and Release.

The provisions of this Section 6.16 shall survive the RE Closing indefinitely and shall not be deemed merged into any of the Closing documents.

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(z) Exhibit B attached to the Purchase Agreement shall be amended by deleting Ground Leased Properties numbers 8 and 9 and replacing each with “Intentionally Deleted”.

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(aa) Exhibit B-5 attached to the Purchase Agreement shall be amended by deleting Sections 6 and 7 thereof and replacing each with “Intentionally Deleted”.

(bb) Exhibit C attached hereto shall be added to the Purchase Agreement as Exhibit C thereto.

3. Joinder. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Parent hereby joins as a party to the Purchase Agreement as amended by this Amendment, and shall be deemed a “Party” thereto for all purposes thereof.

4. Miscellaneous.

(a) This Amendment, when read in conjunction with the Purchase Agreement, constitutes the entire agreement among the Parties with respect to the subject matter of this Amendment and the Purchase Agreement.

(b) Except as amended and supplemented hereby, all of the terms and conditions of the Purchase Agreement shall remain and continue in full force and effect.

(c) This Amendment may be executed in several counterparts, all of which taken together shall constitute one single agreement among the Parties.

(d) The titles and subtitles used in this Amendment are used for convenience only and are not to be considered in construing or interpreting this Amendment.

(e) The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

[Signature Page to Follow]

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IN WITNESS WHEREOF, the Company, Gamma and Parent have executed this Amendment as of the day and year first above written.

[Signature Page to Amendment]

EXHIBIT C

VESSELS

C-1