Is the second time the charm?
Bally’s Corporation on Monday acquired Gaming & Leisure Properties, Inc. announced that it had reached a “binding agreement” with the A’s to build Oakland’s new ballpark on a portion of the current Tropicana Las Vegas property on the far south side of the Strip.
“We are excited about the potential to bring Major League Baseball to this iconic venue,” A’s President Dave Kaval said in a statement. “We are thrilled to work closely with Bally and GLPI, and look forward to finalizing plans to bring the A to southern Nevada.”
The formal deal is the second such deal the A’s have signed in the past month, the first being plans to build a new stadium on 49 acres of land in Las Vegas owned by Red Rock Resorts. But as that process fell behind schedule, partly because of the $500 million in public funding needed for the proposed $1 billion project, Oakland reportedly began reaching out to owners of other potential sites last week. The Nevada Independent first reported the new deal with Oakland’s Bally.
According to The Nevada Independent, the A’s new deal with Bally supersedes their previous agreement with Red Rock Resorts, and is now in the process of building a new MLB stadium on nine acres of the 35-acre site located on Las Vegas Boulevard. has begun. Tropicana Avenue.
Plans are contingent on the Nevada Legislature passing a nine-figure tax package to help fund the construction of the new stadium, although the GLPI has offered “up to $175 million in exchange for an equal rent increase for certain shared improvements within the future development.” Have agreed to pay the funds. “”. The ad says. MLB must also approve the Oakland A’s to move to Las Vegas.
“We are honored to have chosen to partner with the Oakland Athletics in this monumental step to help bring Major League Baseball to the great city of Las Vegas, and to be part of a once-in-a-generation opportunity.” professional baseball team located within walking distance to the Las Vegas Strip,” said George Papanier, President of Bally. “The Tropicana has been a Las Vegas landmark for generations, and this development will enhance this iconic site for generations to come. We are committed to ensuring that the development and the ballpark built in its place become a new landmark.” that pays tribute to him. The iconic history and global appeal of Las Vegas and its approximately 50 million visitors a year.”
Bally estimates that the A’s new 30,000-seat ballpark will welcome more than 2.5 million fans and visitors annually. The Nevada Independent previously cited a source as reporting that the stadium’s original construction schedule is still set to begin in 2024 with a planned opening date of 2027 under Bally’s new deal, which could be pushed back to 2028 if construction fails.
