Oakland A’s, Bally’s Corp. reach binding agreement for Las Vegas Strip ballpark
LAS VEGAS, Nev. (FOX5) - Bally’s Corporation on Monday announced it has reached a binding agreement with the Oakland Athletics for the construction of a Las Vegas Strip ballpark on a portion of the current Tropicana property.
According to Bally’s Corporation, the Athletics’ “state-of-the-art” ballpark is expected to welcome more than 2.5 million fans and visitors annually.
The company said in the release that the venue will be a “one-of-a-kind asset for the Las Vegas Strip.”
According to the release, the ballpark will provide a range of benefits to the site including:
- Substantial ballpark visitation materially enhancing future offerings within the development;
- Significant flexibility for an array of strategic options for the site, including the ability to develop in a phased approach with disciplined capital deployment;
- Massive, unlocked potential for iconic, global brands to partner and market one of the busiest intersections in the country with over seven million impressions a month;
- Transformational impact for the evolution of Bally’s database further solidifying it’s global, omni-channel strategy; and
- GLPI has agreed to fund up to $175 million towards certain shared improvements within the future development in exchange for a commensurate rent increase.
Oakland A’s President Dave Kaval, said, “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 the Athletics to Southern Nevada.”
The Tropicana site marks the second binding agreement that the team has now signed in its quest to potentially move to Las Vegas, as the A’s had previously signed with Red Rock Resorts, the parent company of Station Casinos, for a site that was once home to the Wild Wild West Gambling Hall & Hotel.
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