Bally’s Corp Plans New Las Vegas Property in Tandem with Oakland Athletics’ Stadium

In an exciting revelation for both gaming and sports enthusiasts, Bally’s Corporation has announced plans to develop a new property in Las Vegas, set to open its first phase in sync with the Oakland Athletics’ new stadium. This confirmation came from Bally’s chairman, Soo Kim, who expressed the company’s eagerness to kick off construction following months of speculation and secrecy.

Announcement and Timeline

In comments made to the Las Vegas Review-Journal on October 22, Kim emphasized Bally’s commitment to finalizing plans in a timely manner: "When you talk about Phase 1, that is a casino and some level of restaurants, F&B (food and beverage) and a hotel tower." He indicated that Bally’s would be aiming to open the first phase of the complex as the $1.5 billion, 33,000-seat stadium is expected to debut in the spring of 2028.

This venture follows the demolition of the Tropicana Las Vegas hotel and casino, which took place on October 9, marking a new beginning for the site. With the Tropicana’s passing, construction for Bally’s new property and the A’s stadium can now commence on the shared 35-acre plot.

Project Scope and Phases

The development of the Bally’s property will occur in three distinct phases, with Phase 1 focused on establishing core gaming and hospitality operations. The plans submitted to county officials detail an impressive 90,000 square feet of gaming space, which will include 1,500 slot machines, 75 gaming tables, a sportsbook, and a dedicated poker room. Additionally, there will be a hotel tower which will expand over time, aiming for a total of 3,000 guest rooms, approximately double the capacity of the former Tropicana.

Soo Kim noted that although the plans aren’t yet fully finalized, the objective is to deliver an array of facilities that cater to both gaming enthusiasts and casual visitors. He stated, "This initial phase of the resort could take about two years to complete."

Collaboration with GLPI

Bally’s partnership with Gaming and Leisure Properties Inc. (GLPI) has been pivotal for this undertaking. GLPI owned the land and had leased it to Bally’s prior to the Tropicana’s demolition. They have also committed to contributing $175 million for development efforts, highlighting their belief in the potential of this project. While it remains uncertain whether the A’s and Bally’s will engage in a similar financial collaboration as they did for their Chicago casino, the relationship appears promising.

Kim remarked that the timeline of their project offers them a slight advantage. The Oakland Athletics are under pressure to complete their stadium by the 2028 MLB season, whereas Bally’s can take a bit more time: "This (initial phase of the resort) could take about two years. Probably closer to two than three," he elaborated.

Bally’s Growth and Commitments

This Las Vegas project is one of many ambitious initiatives that establish Bally’s Corporation as one of the most active casino operators in the United States. With various endeavors underway, including a multibillion-dollar casino project in Chicago and efforts to secure casino licenses in New York and Missouri, Bally’s is setting an ambitious growth trajectory.

Bally’s recent acquisition by Soo Kim’s hedge fund, Standard General, at $18.25 per share represents a significant transformation for the company. This buyout not only stabilizes Bally’s after years of financial turbulence but also enables them to merge with Queen Casino & Entertainment, further extending their reach in the gaming industry.

Conclusion

With the convergence of Bally’s new property and the Oakland Athletics’ stadium in Las Vegas, this development promises to revitalize the area while enhancing the overall gaming and entertainment landscape. The strategic timing and ambitious plans reflect Bally’s determination to carve out a significant presence in one of the world’s most iconic cities for gaming and entertainment.

As these projects take shape, both sports and casino enthusiasts will be watching closely, anticipating the debut of a venue that aspires to be a cornerstone of leisure and recreation in Las Vegas. With Soo Kim at the helm, Bally’s is undoubtedly poised for a remarkable evolution that could redefine gaming experiences and showcase the dynamic pairing of sports and hospitality in Sin City.