LAS VEGAS (KTNV) — As the Oakland A's continue to look for a place to play next season, plans are continuing to move forward on a potential ballpark on the Las Vegas Strip.
The ballpark is set to be located where the Tropicana casino currently sits. While some continue to debate whether the project will actually happen, Gaming and Leisure Properties, which owns the land the Tropicana sits on, said they're still optimistic things will work out.
"I think a lot of the news coming out of Las Vegas lately has been somewhat negative questioning the timing and development and maybe the viability of that project. I think, from our perspective, a lot of that is noise," said Brandon Moore, the Chief Operating Officer, General Counsel, and Secretary of Gaming and Leisure Properties. "We understand, at this point, that Bally's and the A's are working pretty closely together to ensure that the A's new stadium design and the integrated resort really maximize the use of that property, that 35-acre parcel, and the value that's there."
Right now, Moore said the company is currently in a "kind of a wait and see mode".
"We've had an opportunity to see the stadium architectural designs and we've seen several variations of the integrated resort designs and we still believe the fully-developed property will be a very good addition to that corner of the Strip," Moore said. "I think as far as how involved we'll be, time will tell. We're the land owner and, obviously, we're taking a very keen interest in ensuring that the value of the remainder parcel that we hold is sustained and if we can enhance that, we're certainly going to do that. At this time, I think we're waiting to see what Bally's is proposing to do for the integrated resort and then, we'll figure out what our opportunities are to invest in that and that, in some ways, will depend on Bally's needs for financing."
Part of the binding letter of intent that was signed between the A's and Bally's Corporation would grant Gaming and Leisure Properties a fee ownership of 9% of the Tropicana site for construction of the stadium. It also states the A's will pay all costs associated with the design, development, and construction of the stadium while Bally's will pay all costs for the redevelopment of the casino and hotel resort amenities.
Gaming and Leisure Properties officials state they're expected to commit up to $175 million of funding for hard construction costs, such as demolition and site preparation.
MGM Resorts International is in a similar holding pattern. During the company's most recent earnings call, Chief Executive Officer and President Bill Hornbuckle said they're waiting to see what happens before doing renovations and upgrades at the MGM Grand.
"I have to believe in the next 30-60 days, we should find out more. I've been shown three versions of it now, in terms of where it will actually sit on the site and how it will connect," Hornbuckle said. "Once it settles in, we'll get serious about what we might want to do and how we might want to communicate with it in terms of pedestrian traffic, etc."
Meantime, 2024 will mark the end of the A's current lease agreement with the Coliseum.
This week, crews were spotted taking down "Rooted In Oakland" signs around the venue. They have since been replaced, according to A's president Dave Kaval.
Great looking new sign at the Coliseum honoring our many historic moments in Oakland! @Athletics The 2024 season will be a celebration of our fifty plus years in Oakland! See you at the ballpark! ⚾️⚾️⚾️ pic.twitter.com/f2AJduOOSU
— Dave Kaval (@DaveKaval) February 28, 2024
The A's are still in talks with the City of Oakland to discuss a potential lease extension for the 2025-2027 seasons. They've also visited ballparks in Sacramento and Salt Lake City and are looking at playing there.
According to the A's, they're looking to open the new ballpark on the Strip in time for the 2028 season.
