The transaction is expected to close in the fourth quarter of 2023 and is subject to customary closing conditions.
Casinos & Gaming
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The company that operates the Tropicana hotel-casino is working on two other big projects and waiting for a Major League Baseball relocation vote.
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.
The Nevada Gaming Commission unanimously approved a settlement agreement with the former chairman and CEO of Wynn Resorts.
Continuing a mergers-and-acquisitions trend, Blackstone Inc. may be looking to sell a portion of its Bellagio land to capitalize on its property investment.
“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.
Some 819 rooms and 104 suites of the Las Vegas Strip resort will undergo a major renovation that is expected to be completed by October.
The 2,812-room resort formerly known as Bally’s has a rich history on the Las Vegas Strip and will become home to the World Series of Poker later this year.
Tickets will go on sale Wednesday for grandstand seating at The Mirage for November’s Formula One Las Vegas Grand Prix.
The class-action suit names Caesars Entertainment, MGM Resorts International, Treasure Island and Wynn Resorts Holdings as defendants.
Hard Rock International officials have backed away from plans outlined by CEO James Allen to close the resort during its renovation and expansion in 2023 or 2024.
Apollo Global Management also plans to invest $1 billion in the Las Vegas Strip property to remodel rooms and upgrade the casino floor.
In Thursday’s earnings call with investors, Bally’s CEO Lee Fenton said the 35 acres at the Tropicana is still in the mix for a stadium for the Oakland A’s.
Only three markets of the 20 monitored by the state showed declines from the previous year with Clark County up 5.6 percent and the Strip up 8.2 percent from last year.
With millions of Instagram posts of Las Vegas casinos, including the most posted Bellagio fountains, the city’s resorts are getting a boost with little financial outlay.