Bally’s Corporation has yet to announce further details about its plans to develop a casino resort on its shared site with the future A’s Baseball Stadium.
The company most recently submitted its revised plans to the Clark County Department of Comprehensive Planning on Oct. 28, 2024. Initial plans estimated the project as having three phases. Phase I is set to include infrastructure improvements, a casino, a day club, a hotel, a conference center and dining/retail space.
Phase II will be comprised of additional parking and a second hotel. The final phase will consist of even more parking and a third hotel tower. (NVBEX; Nov. 18, 2024)
Bally’s is the developer, while Marnell Architecture is the architect. Gaming and Leisure Properties owns the site.
Developers had expressed a desire to build out the first phase of the Bally’s resort alongside the development of the baseball stadium.
Barry Jonas with Truist Securities discussed his research into Bally’s progress during the National Association of Real Estate Investment Trusts in New York earlier this month.
Gaming and Leisure provided $175M toward the stadium, which mainly went toward the demolition of the building that previously held the Tropicana.
Bally’s is paying Gaming and Leisure an annual sum of $10.5M to lease the 35-acre site. Bally’s is also providing the Athletics nine acres of the site to develop its baseball stadium.
Bally’s currently holds 11 locations owned by Gaming and Leisure. In total, the casino operator pays $156.6M per year to lease these locations. Executives have asserted the company has the necessary funding to cover its leases.
Other Bally’s Projects
Bally’s has its focus split between its planned Las Vegas casino and other developments. Currently, the casino operator is in the midst of bidding on a project in New York City that would be near a golf course it owns in the Bronx.
The company is also struggling to develop its $1.7B resort in Chicago and is spending an additional $180M to acquire Australia’s Star Entertainment.
