PROVIDENCE – Bally’s Corp. is helping bring Major League Baseball to the Las Vegas Strip.
The gaming company, which owns Rhode Island’s only two casinos, on Monday announced they and partner Gaming & Leisure Properties Inc. have reached a binding agreement with the Oakland A’s to build a new 30,000-seat stadium on the current site of the Tropicana Las Vegas.
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The project is expected to cost about $1.5 billion, and the A’s are asking for nearly $400 million in public support from the Nevada Legislature, which could vote on a proposal this week.
Under the agreement, 9 of the 35 acres of the Tropicana site will go toward the ballpark. Bally’s still intends to continue the operations of the Tropicana for the foreseeable future while evaluating options for a broader redevelopment of the remainder of the site that will be adjacent to the new ballpark, according to the news release.
The A’s previously previously signed an agreement to build a stadium also on Tropicana Avenue but on the other side of Interstate 15 that runs alongside the Strip. They were expected to ask the Legislature for $500 million in public funds for the 49-acre site that would have included much more than a stadium.
The new agreement is a scaled-down proposal but the location is in closer walking distance for fans who are staying in hotels on the south end of the Strip.
“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,” Bally’s President George Papanier said in a statement. “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.”
Bally’s spokesperson Patti Doyle said the company would not provide any further comment beyond than what was contained in the announcement news release.
The deal is subject to the passing of legislation for public financing and related agreements, and approval of relocation by Major League Baseball.
“We are excited about the potential to bring Major League Baseball to this iconic location,” Oakland A’s President Dave Kaval said. “We are thrilled to work alongside Bally’s and GLPI, and look forward to finalizing plans to bring the Athletics to Southern Nevada.”
The A’s had been looking for a new home for years to replace the outdated and run-down Oakland Coliseum, where the team has played since arriving from Kansas City for the 1968 season. It is averaging less than 9,500 fans at home this season, by far the lowest among the 30 teams.
The team had been in negotiations with the city of Oakland to build a stadium on the waterfront but switched the focus entirely to Las Vegas last month. The A’s exclusive negotiating rights deal with the Port of Oakland for the Howard Terminal site expired last Friday, allowing the port to negotiate with other parties interested in using the downtown site.
On Friday, the A’s also reached a deal with the Culinary Union, a politically powerful Nevada union that represents more than 60,000 workers mostly in the Las Vegas area, which guarantees that A’s workers have the right to organize and negotiate union contracts.
“We hope there will be a path forward for all stakeholders so the Las Vegas A’s can join the Las Vegas Golden Knights and the Las Vegas Raiders to continue this transformation as Las Vegas, the entertainment capital of the world, also becomes the sporting capital of the world,” Culinary Union secretary-treasurer Ted Pappageorge said in a statement.
On Feb. 27, Bally’s completed its acquisition of the Tropicana Las Vegas from Penn Entertainment and Gaming and Leisure Properties Inc. As part of deal Bally’s will pay $148 million for the nonland assets of the Tropicana payable to Gaming and Leisure Properties Inc.
Per that deal, Bally’s will lease the 35-acre parcel at the corner of Tropicana Boulevard and Las Vegas Boulevard for 50 years at annual rent of $10.5 million.
The Tropicana currently has 1,470 guest rooms, 50,000 square feet of casino space with 1,000 gaming positions, a 1,200-seat performance theater and 100,000 square feet of convention and meeting space, according to the original purchase release.
The previous Bally’s casino on the Las Vegas Strip was not part of Bally’s Corp. That property is owned by Caesars Entertainment, which is renaming the property under the Horseshoe brand.
Material from The Associated Press was used in this report.
(Updates: Story updated with additional details on stadium project and comment from Bally’s.)
