{"id":272754,"date":"2023-05-09T17:22:24","date_gmt":"2023-05-09T22:22:24","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=272754"},"modified":"2023-05-10T11:12:08","modified_gmt":"2023-05-10T16:12:08","slug":"tropicana-could-be-site-of-las-vegas-baseball-stadium","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/","title":{"rendered":"Tropicana Las Vegas Reportedly New Site for A\u2019s Ballpark, to Be Demolished"},"content":{"rendered":"

The Tropicana Las Vegas Hotel and Casino could be on borrowed time. The Oakland Athletics are reportedly altering their property choice for a new stadium in Sin City.<\/p>\n

\"Tropicana
Tropicana Las Vegas. The casino hotel could be torn down to make way for a baseball stadium. (Image: Bally’s)<\/figcaption><\/figure>\n

Citing unidentified sources with knowledge of the matter, Howard Stutz of The Nevada Independent<\/em> reported Tuesday that the A\u2019s and Bally\u2019s (NYSE: BALY), Tropicana\u2019s operator, have an agreement under which the casino hotel will eventually be torn down to make way for a Major League Baseball (MLB) stadium.<\/p>\n

\n

The allure of the Tropicana site is clear: by placing the ballpark there, the $500 million in public financing from Nevada taxpayers the A\u2019s and MLB are seeking declines to $395 million. News of the potential A\u2019s\/Bally\u2019s partnership emerged after reports surfaced the team was in talks with Red Rock Resorts (NASDAQ: RRR) regarding roughly 40 acres at the intersection<\/a> of I-15 and the Tropicana. Soon thereafter, it was reported the club and Red Rock reached a binding agreement.<\/p>\n<\/div>\n

While Bally\u2019s operates Tropicana, Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) owns the land on which the integrated resort resides. Following the sale of the non-land real estate assets to Bally\u2019s last September, the casino operator and GLPI entered into a 50-year lease agreement, with an initial term of $10.5 million per year.<\/p>\n

Bally\u2019s, GLPI Could Be Winners<\/h2>\n

It\u2019s possible that the A\u2019s again change their minds and opt for another site. Earlier Tuesday, reports emerged that the team is also considering the land currently occupied by Rio Hotel & Casino<\/a> as a stadium site.<\/p>\n

\n

Should the team move forward with the Tropicana, Bally\u2019s and GLPI stand to benefit. The real estate investment trust (REIT) could generate significant proceeds by selling its last chunk of Strip land. Some of that would be directed to Bally\u2019s, because the operator needs to be compensated for being ushered out of its only Las Vegas venue.<\/p>\n<\/div>\n

Bally\u2019s could also benefit, because if a transaction with the A\u2019s materializes, the operator won\u2019t need to allocate capital to enhancing Tropicana.<\/p>\n

Regardless of the MLB club\u2019s decision, Tropicana could be heading for a tear-down. Last year, Bally\u2019s Chairman Soo Kim told reporters the company is eyeing significant changes at Tropicana, and that demolition and rebuilding<\/a> of the property are possible.<\/p>\n

Red Rock Not Necessarily a Loser<\/h2>\n

Following news of the A\u2019s\/Red Rock accord, analysts gushed<\/a> over the price the casino operator could fetch for the land it was to sell to the team. That pact also included a provision by which the A\u2019s could acquire another eight acres from the gaming company in the future, implying there could be more financial benefits for Red Rock and its investors.<\/p>\n

Should the MLB club proceed with Tropicana or Rio, that doesn\u2019t necessarily mean Red Rock is a loser in this situation.<\/strong><\/p>\n

It owns close to 100 acres near Allegiant Stadium, home of the NFL\u2019s Las Vegas Raiders. That\u2019s a desirable location for a casino resort, and by some estimates, that land is worth upwards of $6 million an acre or more.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Tropicana Las Vegas Hotel and Casino could be on borrowed time. The Oakland Athletics are reportedly altering their property choice for a new stadium in Sin City. Citing unidentified sources with knowledge of the matter, Howard Stutz of The Nevada Independent reported Tuesday that the A\u2019s and Bally\u2019s (NYSE: BALY), Tropicana\u2019s operator, have an […]<\/p>\n","protected":false},"author":46,"featured_media":261264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,81886,82963,1],"tags":[81898,23,81829,81967],"acf":[],"yoast_head":"\nTropicana Could Be Site Of Las Vegas Baseball Stadium<\/title>\n<meta name=\"description\" content=\"Oakland A's eye Tropicana Las Vegas for stadium site.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tropicana Could Be Site Of Las Vegas Baseball Stadium\" \/>\n<meta property=\"og:description\" content=\"Oakland A's eye Tropicana Las Vegas for stadium site.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-09T22:22:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-10T16:12:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/trop2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/\",\"url\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/\",\"name\":\"Tropicana Could Be Site Of Las Vegas Baseball Stadium\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/trop2.jpg\",\"datePublished\":\"2023-05-09T22:22:24+00:00\",\"dateModified\":\"2023-05-10T16:12:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Oakland A's eye Tropicana Las Vegas for stadium site.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/tropicana-could-be-site-of-las-vegas-baseball-stadium\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/trop2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/trop2.jpg\",\"width\":1280,\"height\":853,\"caption\":\"Tropicana Las Vegas. Tropicana on the Las Vegas Strip. Owner Gaming and Leisure Properties has a decent credit rating and profiles, says Fitch. 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