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In an ambitious move, the Oakland Athletics, a prominent member of the American League West division, has partnered with Bally’s Corp., a leading casino developer and entertainment giant, to create a $1.5 billion baseball park. This highly-anticipated ballpark, planned to accommodate 30,000 spectators, is set to replace the famed Tropicana Las Vegas resort, according to the Review-Journal.
The A’s decision to erect the new facility at the iconic Las Vegas Strip site has sparked a spectrum of public reactions, ranging from enthusiastic approval to mixed feelings. The A’s were reportedly contemplating three prime locations for the ballpark: the Tropicana, the Las Vegas Festival Grounds, and the Rio. The final decision was tipped in favor of the Tropicana site last month when A’s President, Dave Kaval, confirmed the club’s agreement with Bally’s Corp.
Interestingly, the deal also includes a provision for Bally’s to develop a casino resort on the remaining land at the site, according to inside sources.
Moving the proposed site to the east will necessitate less public funding from the Nevada Legislature. As a result, the A’s will now require approximately $395 million in tax financing for the stadium, a significant decrease from the previously estimated $500 million for the Red Rock Resorts’ land at the former Wild Wild West Side. However, this relocation plan also mandates the demolition of the Tropicana, a 1950s landmark, to free up nine acres for the new stadium.
George Papanier, President of Bally’s Corp., has recently referred to the Tropicana property as a “low-hanging fruit” that will eventually prove profitable. His optimistic view of the 35-acre site, which he considers one of the busiest corners of the Las Vegas Strip, suggests a promising future for external investment.
The baseball franchise aims to commence construction at the new site by next year, with a proposed opening date around 2027 or 2028, subsequent to the Tropicana’s demolition. The location’s close proximity to over 25,000 accommodation units within walking distance on the Las Vegas Strip is another attractive feature for the forthcoming ballpark.
The venture awaits the passing of funding legislation and the establishment of a tax district at the site, contingent on the A’s receiving all necessary construction approvals. Financing for the Las Vegas ballpark will be secured through bond issuance, repayable via taxes over a 30-year period.
Governor Joe Lombardo is reportedly preparing a package for the A’s, with a preference to finalize matters before the legislative session adjourns. However, he is open to exploring other options if required. The rapidly approaching end of this year’s legislative session puts pressure on the A’s to expedite the process.
The Tropicana holds a special place in the hearts of many Las Vegas visitors. As Tony Fields from New York put it, “The Tropicana is a landmark. This was the playground for Sammy Davis, Jr., Frank Sinatra, and Dean Martin.” Despite these sentimental attachments, the transformation of this historic site is poised to offer new opportunities and growth for the city of Las Vegas and the Oakland Athletics.