The closing of a huge casino deal on the Las Vegas Strip; Here’s what’s next

The closing of a huge casino deal on the Las Vegas Strip;  Here’s what’s next

On the Las Vegas Strip, nothing big happens quickly.

Building a new casino and resort can take years and a lot can go wrong. Fontainebleau Las Vegas is perhaps the most extreme example: The project, which appears on track to open in 2023, took nearly 20 years to complete.

The resort’s casino has gone through many owners and has appeared dead many times. Now, it’s back in the hands of its original owner, and seems to have removed all obstacles to full and open construction.

This is not typical, but a lot of deals are announced and never happen or look very different when they are actually executed. So when the big deals are announced, you should be a little skeptical. A changing casino is not the same as a home or even a major business being sold.

Casino sales also require a variety of regulatory approvals.

But in the face of everything that could have derailed the sale, Bally’s Corp. (Bali) You have completed your Tropicana purchase.

However, this may just be the first step on a transformative journey to this legendary Las Vegas Strip property.

Take Bali over the Tropicana

“Breaking news! We’ve officially joined the ballyscorporation family. We can’t wait for all the exciting stuff to come! For more info visit Bally,” Tropicana said on her Twitter page.

Bally’s will initially add the property to its rewards program instead of the program operated by Penn Gaming (the pen) who previously ran Tropicana Casino.

Penn customers can redeem their myChoice Rewards points at the Off-Strip M Resort in Las Vegas or at any of the company’s other hotels across the country.

For now, Bally will not remove the Tropicana name from the marquee, which the company’s president, Georges Babanier, said would become the company’s “Western pioneer.”

Bally plans to operate the property for 18 to 24 months before making any major changes.

Bali has big ideas for Tropicana

Since Bally’s name has been removed from Caesars Entertainment (CZR) On the Las Vegas Strip, it’s available for use on the Tropicana.

The company will not rush to do so because it does not make sense to pay for re-branding when complete rupture and rebuilding are still possible.

โ€œBut 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,โ€ Babanier told the Nevada Gaming Commission, reported.

Part of a major redevelopment could include building a stadium for the Oakland Athletics in Major League Baseball. The Tropicana site remains one of two sites (along with some land adjacent to Circus Circus) the team has publicly acknowledged as an option.

Should Team A leave Auckland, which seems increasingly likely, the team has floated plans to build a 30,000-seat stadium with a retractable roof.

โ€œThey are continuing to communicate with us, and we hope there will be an opportunity where we can do joint development,โ€ Babanier said on September 7.

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