Bally's to buy Tropicana for $308MBally's Corporation, Gaming & Leisure Properties, Inc (GLPI), and PENN Entertainment, Inc acquired Tropicana for a cash purchase price of $148 million.
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Bally's acquired the Tropicana Las Vegas from GLPI in September 2022, with Bally's leasing the land underlying the hotel from GLPI as part of the transaction.
An internal memo says the Tropicana will close between late 2024 and mid-2025 and strongly suggests the new resort will be given the Bally's name, which is convenient since the last hotel on the Strip, known as Bally's, was recently rebranded as the Horseshoe.
executives wait for the Oakland Athletics to finalize their Las Vegas ballpark plans. With the A's planning to construct a $1.5 billion, 30,000-seat stadium on at least 9 acres of the 35-acre Tropicana site, the decades-old resort will have to be demolished to make way for the ballpark.
Golden Gate Hotel & Casino: FirstsAs the city's original casino, Golden Gate Hotel & Casino brought about many Las Vegas “firsts”, including: 1905: Land for Golden Gate (previously Hotel Nevada) is purchased, making it the first casino in Las Vegas. 1907: Las Vegas' first telephone is installed at Golden Gate.
Goodbye, Tropicana Las Vegas. It was nice knowing you. If all goes according to plan, the site of the 66-year-old Strip resort will become a Major League Baseball stadium, sealing the deal to relocate the Oakland Athletics to Las Vegas.
The team will continue to play at the existing Tropicana Field until its lease with the city ends in 2027. The first phase of development and the new ballpark should be ready by Opening Day 2028. The public approval process by Pinellas County and the City of St. Petersburg is expected to begin this fall.