Many of you already know that Bally’s Corporation agreed to purchase the Tropicana Las Vegas last April. The sale came to just over $300 million. That agreement was really for the land on the corner of Las Vegas Boulevard than it was the deteriorating hotel and casino. The non-land assets were another $150 million.
Now, with the deal set to finalize, Bally’s has publicly stated that they re considering many options for the property. Those include that the hotel and casino will “almost certainly” be rebranded, but it’s not out of the realm of possibility that the whole site is simply demolished, with a new building put in its place.
All of this follows the sale of the Bally’s brand by Caesars in October of last year, and the renaming of the Bally’s property on the Strip to the Horseshoe Casino, which we reported earlier this week. So, it’s possible that the Tropicana Las Vegas could be remodeled as Bally’s, or that a new Bally’s Casino is built on the 35-acre parcel.
Bally’s Corporation is a global casino-entertainment company with a growing omni-channel presence of online sports betting and iGaming offerings.
It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 16 states, with approximately 10,000 employees, the Company’s operations, include approximately 15,800 slot machines, 500 table games and 5,300 hotel rooms.
Upon closing the previously announced Tropicana Las Vegas transaction, as well as completing the construction of a land-based casino near the Nittany Mall in State College, PA, Bally’s will own and manage 16 casinos across 11 states.