During the company’s second-quarter earnings call, Gaming & Leisure Properties Inc. CEO Peter Carlino provided an update on the rapid development pace of proposed Oakland A’s stadium.
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The redevelopment of the Tropicana property is long overdue, said Bally’s Corp. chairman Soo Kim. The company is eager to get that underway as soon as possible.
Once among the most upscale properties on the Strip, a gilded treasure box of showgirls and celebrities, a destination spot in a destination city, the Trop courts a different clientele these days.
The demolition of the Tropicana hotel on the Strip would delay the completion of the A’s ballpark.
Employees at the Tropicana received mixed messages about when the property may temporarily close as the Oakland Athletics’ Las Vegas ballpark plan continues to take shape.
The owners of the Tropicana want to see a $1.5 billion, 30,000-seat ballpark built on their site.
Plans call for the Tropicana to be demolished, with the A’s set to build a partially retractable roof ballpark on nine of the 35 acres of the south Strip site.
“We’re not in favor of any tax dollars put into this,” said MGM Resorts International CEO Bill Hornbuckle during the company’s earnings call with investors.
The condition would have been tied to the Las Vegas Festival Grounds, a 39-acre site the Oakland Athletics no longer are considering for a stadium.