Bally’s Approved to Demolish Tropicana Las Vegas, New Baseball Stadium Set for 2028 Season

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In a riveting turn of historical progress, Clark County has given the green light for Rhode Island-based Bally’s Corp. to bring down the iconic Tropicana Las Vegas. With a long-standing memory swirling around ‘The Trop,’ the company is given an ultimatum: bring down the crown jewel by October 20.

No stranger to theatrical implosions, Las Vegas watched as the Boardwalk Hotel & Casino crumbled on May 9, 2006. This time, the anticipatory eyes of the public gaze towards the Tropicana’s imminent end, and for a good reason. A permit approval of this magnitude doesn’t just carry a nine-day waiting period but requires the paying up of $48,000 application fee, as reported in Las Vegas Review-Journal.

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Aside from the application fee, Bally’s has a whopping $15 million price tag dangling from this implosion. As chair Soo Kim revealed on Wednesday, expect the sensational demolition to ripple either in September or October —all dependent on when GGG Demolition successfully secures the needed permits. With a company motto of “Going, Going, Gone,” the Orange, Calif-based firm interestingly boasts of its woman-owned status.

The Tropicana Las Vegas, a historic gem, shut its doors for good on April 2, mere weeks away from celebrating its 67th anniversary. International Content Liquidations, an Ohio-based firm, currently hustles to sell off detachable parts of the casino resort, offering the legendary hotel suites piecemeal or in entire ensembles.

Destined to replace the old with the new, Bally’s envisions the groundbreaking for a $1.5 billion baseball stadium for the Oakland Athletics on nine acres of the 35-acre site. According to Mortenson-McCarthy, a construction firm linked with the A’s, baseball fans can expect the first pitch thrown in the new ballpark in the 2028 season, starling construction in April 2025.

However, Bally’s grand plans appear somewhat blurred with Moody’s recent downgrading of its credit rating into junk territory, raising questions about the long-term viability of these lofty projects. To make matters grittier, the company reportedly falls short by an alarming $800 million to finance a proposed downtown Chicago casino hotel.

High financial leverage and a junk credit rating prove challenging when seeking financing, attributed to high interest rates that accommodate creditors’ compensation for perceived risk. Despite this, Bally’s commits to a 50-year lease with Gaming and Leisure Properties Inc. for the Tropicana site.

Yet, amidst all this, a collective concern burdens Las Vegas observers. The fear that the jewel of their history, the strip, will disappear, replaced merely by another vacant lot that might sit idle for over a decade.