Oakland A’s Las Vegas Relocation Will Determine Tropicana Las Vegas’ Fate

Oakland A’s Las Vegas Relocation Will Determine Tropicana Las Vegas’ Fate

Oakland A’s Las Vegas Relocation Will Determine Tropicana Las Vegas’ Fate

Tropicana Las Vegas casino hotel’s fate depends on whether the Oakland Athletics (A’s) will relocate to Las Vegas. The gaming site is likely to be brought down late next year and a baseball stadium will be constructed on its land.
Its timeline matches the A’s lease’s expiration on the Oakland ballpark. Ross Edwards, Mortenson McCarthy’s Senior Vice President of Operations informed the Las Vegas Stadium Authority that they will start constructing an MLB stadium in Sin City by April 2025. Still, the stadium has to be ready before the 2028 season.

The A’s employed McCarthy to oversee the ballpark’s construction. Bally’s Corporation and the A’s disclosed their deal to transform the land where the Tropicana Las Vegas sits on currently to an MLB stadium. They added that the casino resort would not last for more than two more years.

Even so, the MLB team made another deal with Red Rock Resorts in the past regarding a 40-acre parcel at the 1-15 and the Tropicana intersection. However, reports indicate the agreement failed since the stadium’s developer required $500 million to build it. Its budget is higher than the $395 million that a similar project Tropicana had on its land.

What is Tropicana Las Vegas’ Fate?

Brandon Moore, Gaming and Leisure Properties (GLPI) COO stated in a recent earnings conference call that Bally’s and the A’s are running Tropicana now. However, GLPI is the property’s owner and stakeholders consider its perspective about its operations.

The Real Estate Investment Trust (REIT) pledged $175 million for the MLB stadium project and it might increase the fund. Moore stated that they have committed to the least investment number to aid in demolishing the casino resort and clearing the land. Still, they will take part in shared infrastructure.

Moore said that GLPI might later decide to increase its contribution to the project. But, they won’t rush to make another commitment now.

The MLB stadium’s development costs will amount to $400 million and the A’s will pay most of it. Still, the MLB team is determined to get the remaining $1.1 billion to complete the project.

The Casino Resort’s Revival

GLPI initially stated that it would team up with Bally’s Corporation to revive Tropicana Las Vegas once the ballpark is ready. Yet, the venue might be demolished and might take place even if the A’s fail to relocate to Vegas since Bally’s promised to upgrade the site.

Tropicana’s demolition in its current state will kill part of Vegas’ history. It was often associated with organized crime during the Sin City lore period. Ben Jaffe, then owner was in hot soup in the 10950s when his promissory note to Frank Costello’s Luciano family’s leader was discovered.

The gaming property was a key cash-skimming target of Kansas City’s Civella crime family in the 1970s. it partly inspired Casino’s plot, a 1995 thrilling film featuring Sharon Stone, Joe Pesci, and Robert De Niro.

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