{"id":273534,"date":"2023-05-15T12:00:14","date_gmt":"2023-05-15T17:00:14","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=273534"},"modified":"2023-05-15T17:23:01","modified_gmt":"2023-05-15T22:23:01","slug":"ballys-oakland-as-reach-agreement-on-tropicana-stadium-site","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/","title":{"rendered":"Bally\u2019s, Oakland A\u2019s Announce Agreement for Tropicana Stadium Site"},"content":{"rendered":"

Bally\u2019s and the Oakland Athletics announced Monday that they\u2019ve reached an agreement: the Major League Baseball (MLB) club will build a stadium on nine acres near the Tropicana Las Vegas Hotel and Casino.<\/p>\n

\"Tropicana
Tropicana Las Vegas. Bally’s and the Oakland A’s have an agreement to turn the property into an MLB stadium site. (Image: Getty Images)<\/figcaption><\/figure>\n

The pact was reached in conjunction with Gaming and Leisure Properties, Inc. (GLPI), which owns Tropicana\u2019s property assets.<\/p>\n

Regional casino operator Bally\u2019s paid $148 million last September to acquire Tropicana\u2019s building and the operating license from the real estate investment trust (REIT). Should the A\u2019s remain committed to that site, it could mean the clock is ticking on Tropicana<\/a>, a once iconic casino hotel that opened in 1957 and was previously known as the \u201cTiffany of the Strip.\u201d<\/p>\n

Bally’s intends to continue the operations of the Tropicana Las Vegas for the foreseeable future while evaluating all available options for a broader redevelopment of the remainder of the site that will be adjacent to the new ballpark,\u201d<\/strong> according to a statement.<\/p><\/blockquote>\n

Gaming and Leisure Properties agreed to fund up to $175 million worth of property improvements in exchange for a rent increase.<\/p>\n

How Binding is Bally\u2019s, A\u2019s Agreement?<\/h2>\n

The pact between Bally\u2019s and the A\u2019s is called \u201cbinding\u201d in the statement. But Las Vegas locals are right to be skeptical of such language.<\/p>\n

\n

The MLB team previously had a binding agreement with Red Rock Resorts pertaining to approximately \u00a040 acres at the intersection<\/a> of I-15 and the Tropicana. It\u2019s believed that the accord fell through because the amount of public financing needed to build a stadium on that site is $500 million, compared with $395 million for the same project on Tropicana\u2019s land.<\/p>\n<\/div>\n

The scrapped agreement with Red Rock isn\u2019t referenced in the press release. Assuming the agreement with Bally\u2019s and GLPI remains in place, the first MLB stadium in Las Vegas will be situated at Las Vegas Boulevard and Tropicana Avenue and accommodate about 30K fans.<\/p>\n

The \u201cagreement is subject to passing legislation for public financing and related agreements, and approval of relocation by Major League Baseball. As part of the agreement, Bally’s retains the ability to assign the rights to all aspects of this development and has received material interest from development partners,\u201d according to the statement.<\/p>\n

Tropicana Shelf Life<\/h2>\n

It appears all but certain that if the A\u2019s remain committed to the Tropicana site, the casino hotel\u2019s days are numbered. In the statement, Bally\u2019s President George Papanier used the phrase \u201cballpark built in its place,\u201d implying the gaming venue will be demolished<\/a> to make way for the stadium.<\/p>\n

A time frame for that happening wasn\u2019t revealed. The A\u2019s lease in Oakland expires in 2024, and it\u2019s expected the club will play two seasons at a minor league stadium in Summerlin, Nevada, before moving to an MLB-ready venue in 2027.<\/strong><\/p>\n

Tropicana is the only Strip venue operated by Bally\u2019s and is the only Las Vegas gaming real estate owned by GLPI.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bally\u2019s and the Oakland Athletics announced Monday that they\u2019ve reached an agreement: the Major League Baseball (MLB) club will build a stadium on nine acres near the Tropicana Las Vegas Hotel and Casino. The pact was reached in conjunction with Gaming and Leisure Properties, Inc. (GLPI), which owns Tropicana\u2019s property assets. Regional casino operator Bally\u2019s […]<\/p>\n","protected":false},"author":46,"featured_media":211561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,81886,82963,16],"tags":[81897,23,81829,81179],"acf":[],"yoast_head":"\nBally's, Oakland A's Reach Agreement On Tropicana Stadium Site<\/title>\n<meta name=\"description\" content=\"Bally's, Oakland A's have agreement in place to turn Tropicana into baseball stadium.\" \/>\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\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally's, Oakland A's Reach Agreement On Tropicana Stadium Site\" \/>\n<meta property=\"og:description\" content=\"Bally's, Oakland A's have agreement in place to turn Tropicana into baseball stadium.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/\" \/>\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=\"2023-05-15T17:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-15T22:23:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/trop.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1040\" \/>\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\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/\",\"url\":\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/\",\"name\":\"Bally's, Oakland A's Reach Agreement On Tropicana Stadium Site\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/trop.jpg\",\"datePublished\":\"2023-05-15T17:00:14+00:00\",\"dateModified\":\"2023-05-15T22:23:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Bally's, Oakland A's have agreement in place to turn Tropicana into baseball stadium.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-oakland-as-reach-agreement-on-tropicana-stadium-site\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/trop.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/trop.jpg\",\"width\":2000,\"height\":1040,\"caption\":\"Tropicana Las Vegas. 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