Another domino has fallen on the Las Vegas strip, and this is only the beginning since dominoes have generally rippled, sometimes with unintended consequences.
Several major movements are related to the sector. MGM Resorts (MGM) She sold the Mirage to Hard Rock International, which led to its purchase of Cosmopolitan. It’s possible that MGM planned these two moves, but the company can never be entirely sure that one move you make will lead to another it wants to happen.
There will probably be a little more warranty at Caesars Entertainment (CZR) She decided to remove Bally’s name from one of her properties on the Las Vegas Strip. This move was made shortly after Bally’s Corp. (Bali) Agrees to buy Tropicana gaming assets from gaming and entertainment property company Gaming & Leisure Investment Properties (GLPI) .
Bally’s move prompted Caesars to start work to rename his holdings from Bally’s to Horseshoe. This isn’t just a name change, it’s actually a major revamp of the property’s market position.
Like Bally, the hotel was kind of just another Caesars resort casino. The Horseshoe brand actually has a long history in Las Vegas and is used by Caesars out of town as a casino meant to be gamblers-friendly.
Now, Bally’s has cleared the last hurdle when it comes to capturing the Tropicana. This will mean either not that much or a lot depending on your schedule.
Tropicana won’t change much, at least in the beginning
When Bally takes over the gaming operations of Tropicana, the initial changes will be minimal.
The property is currently operated by Penn National Gaming (the pen) So, the biggest initial change would be to change the signage to reflect the Bally’s Rewards loyalty program rather than Penn’s mychoice. (Penn customers can redeem their points at other company properties.)
George Babaner, Bally’s president, told the Nevada Gaming Commission that the company intends to use the Tropicana as its main Western property, Casino.org reports.
Changes, even changing the name to reflect the new owner, are not forthcoming. In fact, Babanier expects his company to wait 18 to 24 months before fully evaluating its options. This does not mean that the long-term plan is operating as usual at Tropicana.
“But in this case, we think we should also assess the possibility of a complete redevelopment due to its competitive position in the market at the moment,” Babagnier told the regulatory agency.
Auckland looms over Las Vegas
Bally’s was discussing building a baseball field for the Oakland A’s at the Tropicana site. These discussions did not stop, though, as Team A was quiet as they continued to speak with multiple locations in Las Vegas as well as a potential stadium location in their current home in Oakland.
“They are continuing to communicate with us and we hope there will be an opportunity where we can do joint development,” Babanier said on September 7.
Team A also had discussions with Circus Circus owner Phil Ruffin, who owns a 37-acre plot, the Las Vegas Festival Grounds, next to his resort casino.
The Las Vegas Review-Journal reports that “A’s president Dave Kaval noted the team’s interest in the festival grounds early in the Las Vegas search process, but the focus has shifted away from that location as the team’s market research progresses.”
If Team A finds a location in Las Vegas, the team plans to build a 30,000-seat stadium with a retractable roof. It’s a small stadium by Major League Baseball standards, which will likely result in games being sold out and notable games being hot tickets.