LAS VEGAS (KTNV) — Bally's Corporation struck a deal with the Oakland Athletics that will enable the A's to construct a ballpark on a portion of the current Tropicana Las Vegas property on the Las Vegas Strip, the company announced Monday morning.
This comes after reports that the A's, after announcing a proposed ballpark site near Allegiant Stadium, were once again examining options on the Tropicana property — a site rumored to be under consideration before the MLB team announced plans to relocate to Las Vegas.
The proposed A's Las Vegas ballpark is expected to welcome more than 2.5 million fans and visitors each year, a Bally's spokesperson stated in a news release, "and will be a one-of-a-kind asset for the Las Vegas Strip, providing a range of benefits to the site."
As for what's to become of the Tropicana — one of the oldest operating casinos in the city — Bally's president hinted at demolition in his statement, calling a potential ballpark a "new landmark" that would be "built in its place."
"The Tropicana has been a landmark of Las Vegas for generations, and this development will enhance this iconic site for generations to come," Bally's president George Papanier stated in the news release. "We are committed to ensuring that the development and ballpark built in its place will become a new landmark, paying homage to the iconic history and global appeal of Las Vegas and its nearly 50 million visitors a year."
As part of the agreement, GLPI — the real estate company that owns the Tropicana land — will allocate approximately nine acres of the 35-acre property for an Athletics ballpark designed to accommodate approximately 30,000 fans, the news release states.
"We are excited about the potential to bring Major League Baseball to this iconic location," Athletics president Dave Kaval stated in the prepared release. "We are thrilled to work alongside Bally's and GLPI, and look forward to finalizing plans to bring the Athletics to Southern Nevada."
GLPI agreed to fund up to $175 million toward "shared improvements within the future development" of the property, in exchange for a rent increase. As of September 2022, Bally's had agreed to pay $10.5 million annually as part of a 50-year lease agreement with GLPI.
Before a ballpark could be built on the property, Bally's noted legislation is needed for public financing of construction, and MLB has to officially approve the A's proposed relocation out of Oakland.
To that end, a ballpark financing bill had yet to be introduced to the Nevada legislature as of Friday.
Nevada state Sen. Scott Hammond told Channel 13 that he has seen language for legislation, and that the public funding portion to build a stadium would total $395 million and include a tax district. That legislation is expected to be introduced early this week.
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In late April, the Athletics announced an agreement to buy a different plot of land from Red Rock Resorts. That agreement would have placed a ballpark just west of the Strip, near Allegiant Stadium.
In a previous interview with Channel 13, Kaval said the Athletics want to open a Las Vegas ballpark by 2027.
As for what a ballpark would look like, Kaval tells Channel 13 it will be climate-controlled. He also told reporter Bryan Horwath the A's have eyed the Atlanta Braves development of Trusit Park as a possible model to emulate.
In that model, the Braves created a mixed-use development where certain taxes collected from a zone around the ballpark are used to pay for it. It's often referred to as "tax increment financing," now a popular way to fund new stadiums around the country.
If MLB approves a relocation, it's not yet clear where the A's would play in the interim, though Commissioner Rob Manfred has said it's "feasible" for the A's to share Las Vegas Ballpark with its Triple-A affiliate, the Aviators.
