Bally's and GLPI Partner with Oakland Athletics for New Ballpark on Las Vegas Strip
LISTEN TO THIS ARTICLE:Bally's Corporation and Gaming & Leisure Properties, Inc. (GLPI) have announced a groundbreaking agreement with the Oakland Athletics of Major League Baseball (MLB) to construct a state-of-the-art ballpark on a section of the Tropicana Las Vegas.
The new ballpark is expected to attract over 2.5 million fans and visitors annually and will bring a range of benefits to the site.
Under the agreement, approximately nine acres of the 35-acre site on Las Vegas Boulevard and Tropicana Avenue will be assigned to the Oakland Athletics or a related stadium authority. The new ballpark will have a seating capacity of approximately 30,000 fans. However, this agreement is subject to legislative approval for public financing, related agreements, and relocation approval from Major League Baseball.
The partnership between Bally's Corporation, GLPI, and Oakland Athletics holds great significance. The new ballpark will not only mark a monumental step towards bringing Major League Baseball to Las Vegas but will also offer a unique opportunity to have a professional baseball team located just a short walk away from the bustling Las Vegas Strip.
The Tropicana Las Vegas has been a landmark of the city for generations, and this development aims to enhance the iconic site for generations to come.
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. 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.
GLPI's Chairman and CEO, Peter Carlino, spoke highly of the Oakland Athletics' vision for a new ballpark and praised their interest in developing a world-class MLB stadium on the prime location of the Tropicana site. He highlighted the potential enhancement that this project will bring to the Las Vegas Strip and emphasized the opportunities for further investment in future development.
We are excited about the potential to bring Major League Baseball to this iconic location. We are thrilled to work alongside Bally's and GLPI and look forward to finalizing plans to bring Athletics to Southern Nevada.
Bally's Corporation acquired the Tropicana Las Vegas building and operations from GLPI in 2022 and as part of the agreement, entered into a 50-year ground lease with the ability to extend up to 99 years upon achieving specific investment milestones. While Bally's intends to continue operating the Tropicana Las Vegas, it also plans to explore options for the broader redevelopment of the remaining site adjacent to the new ballpark.
The agreement between Bally's, GLPI, and the Oakland Athletics marks a significant milestone in the journey to bring Major League Baseball to Las Vegas. It represents an exciting opportunity for both locals and tourists to enjoy America's pastime in a state-of-the-art facility located in the heart of the vibrant Las Vegas Strip.
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