LAS VEGAS (KTNV) — Bally's Corp. Chairman Soo Kim has a message for anyone who might be doubting the Oakland A's and their plans to move to Las Vegas.
"The A's are coming and we think it's going to be great for the city," Kim said during an interview with Channel 13 on Friday.
Watch the full interview:
The interview comes a day after a buyout agreement was announced for a $4.6 billion takeover of Bally's by a hedge fund called Standard General LP, which is managed by Kim.
The businessman said the move is a way for him to signal to investors that he's all in on Bally's big plans, which include a new casino in Chicago and a new casino resort that would be adjacent to a planned new $1.5 billion A's ballpark at the Tropicana site.
In April, the Tropicana closed after a nearly seven-decade run on the Strip. It's scheduled to be imploded in October, Kim says.
The A's say they want to build their new ballpark, which would necessitate a move to Las Vegas from Oakland, on 9 acres at the Tropicana site, which is about 35 acres in total. The stadium would open, if all goes according to plan, for the 2028 Major League Baseball season.
As for more specifics on the casino that Bally's wants to build on the Tropicana land, Kim says we'll have to wait.
"We have plans," Kim said. "We will reveal them hopefully not too long from now."
Some have criticized the A's for what they say is a lack of insight into how they plan to finance their stadium. Part the financing, however, would come from the state of Nevada.
Last year, lawmakers approved up to $380 million for the ballpark project. That money would be generated over time through a special stadium district tax.
Earlier this month at a Las Vegas Stadium Authority meeting, a team official said the A's plan to use about $350 million of the $380 million that was earmarked.
Kim says he knows some are still skeptical of the plans for the Tropicana site, but he didn't seem deterred. He calls the ballpark and adjacent casino plans "a win for everyone."
"The great thing about America is we have freedom of speech and everyone is free to have their opinions," Kim said. "The (A's) are coming for sure. We'll have more than 25 acres there at the Tropicana site and I just don't understand people saying that there's no economic value there. Twenty five acres on the Strip, I'll take that next to a $1.5 billion ballpark."
