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IEP released its fourth-quarter earnings Monday and included a valuation estimate for Tropicana in a section of the report that IEP calls its “indicative internet asset value” of its various investments and wholly-owned belongings. The company, controlled by billionaire investor Carl Icahn, is even cheaper when valued based on its earnings before curiosity, taxes, depreciation, and amortization (Ebitda)–simply 3.5 instances 2015 Ebitda of $142 million based mostly on its enterprise worth (market worth plus net debt) of around $500 million. Icahn Enterprises (IEP), the publicly traded partnership managed by Icahn, owns 68% of the company’s 26. Three million outstanding shares. In contrast to Churchill Down’s $5 billion valuations, GMBL is worth around $60 million incomplete.