Bally’s Corporation has joined forces with the MLB’s Oakland Athletics to establish a state-of-the-art ballpark on the renowned Las Vegas Strip, the parties confirmed on Monday. The plan sees a significant shift in the team’s former vision for its relocation plans, which called for a different location near Vegas Valley Boulevard as part of a deal with Station Casinos.
Bally’s, in conjunction with Gaming & Leisure Properties, has reached a binding agreement that will see the new stadium located on a portion of the current Tropicana Las Vegas property. The proposed ballpark is expected to attract over 2.5 million fans and visitors each year.
Situated on approximately nine acres of the 35-acre site at the intersection of Las Vegas Boulevard and Tropicana Avenue, the stadium will provide seating for around 30,000 spectators.
However, the landmark agreement is contingent upon the passage of legislation for public financing, as well as the approval of relocation by Major League Baseball. Also as part of the deal, Bally’s retains the ability to assign the rights to all aspects of this development and has received material interest from development partners.
George Papanier, President of Bally's
George Papanier, President of Bally’s, expressed his enthusiasm for the partnership, stating: “We are honored to have been selected to partner with the Oakland Athletics on this monumental step in helping to bring Major League Baseball to the great city of Las Vegas, and to be a part of the once-in-a-generation opportunity of having a professional baseball team located within a short walk of the Las Vegas Strip.”
“The Tropicana has been a landmark of Las Vegas for generations, and this development will enhance this iconic site for generations to come. We are committed to ensuring that the development and ballpark built in its place will become a new landmark, paying homage to the iconic history and global appeal of Las Vegas and its nearly 50 million visitors a year.”
GLPI, the owner of the Tropicana Las Vegas property, will contribute up to $175 million for shared improvements within the future development in exchange for a commensurate rent increase.
Peter Carlino, Chairman and CEO of GLPI
Peter Carlino, Chairman and CEO of GLPI, remarked: “The Oakland Athletics’ interest in developing a world-class Major League Baseball stadium on our site underscores its status as one of the most prime locations on the Las Vegas Strip and will enhance any future development of our remaining 26 acres.”
Oakland A’s President Dave Kaval also expressed excitement about the potential to establish a Major League Baseball presence in such an iconic location, stating: “We are thrilled to work alongside Bally’s and GLPI, and look forward to finalizing plans to bring the Athletics to Southern Nevada.”
The agreement between Bally’s and the Athletics marks a significant shift in the team’s relocation plans. Previously, the A’s had announced a binding agreement with Station Casinos for a different location near Vegas Valley Boulevard, just east of Interstate 15. However, the new deal with Bally’s allows for a lower request for public funding and presents a unique opportunity to establish a ballpark in the Las Vegas Strip.
While the plans for the remainder of the Tropicana Las Vegas property have yet to be disclosed, Bally’s has committed to continue operating the casino-hotel for the foreseeable future while exploring potential redevelopment options. The agreement with GLPI grants Bally’s the flexibility to adopt a phased approach to future development.
The Bally’s Corporation acquisition of the Tropicana Las Vegas building and operations from GLPI in September 2022 laid the foundation for this ambitious project. Papanier added: “This development will enhance this iconic site for generations to come.”
With public financing still pending legislative approval, the Bally’s-Oakland Athletics partnership sets the stage for a major sports and entertainment venture on the bustling Las Vegas Strip. The bill for public funding is anticipated to be introduced in the Nevada Legislature in the near future, and the involved parties are optimistic about securing the necessary approvals to move forward with this historic endeavor.
Original article: https://www.yogonet.com/international/news/2023/05/16/67168-bally-39s-oakland-a-39s-reach-agreement-for-baseball-stadium-at-tropicana-casino-site
