The Oakland A’s and Bally’s Corp. have agreed to build a $1.5 billion stadium on a portion of the Tropicana Las Vegas site, reducing the public financing needed to $395 million.
With the Oakland Athletics pledging 9 acres on the Las Vegas Strip free of charge, Tropicana owners hope to complete the $1.5 billion MLB ballpark project in 2012.
According to Bally’s Corp. Chairman Soo Kim, the Tropicana’s 9 acres could be worth $180 million at $20 million per acre, or $20 million an acre.
A special tax district set up around the stadium site would generate most of the $395 million in public assistance for the 30,000-seat stadium.
Gaming and Leisure Properties Inc. owns the 35-acre site as well as the buildings and the right to use them. The owners of GLPI decided to donate 9 acres to this effort.
Bally’s entered into a 50-year lease agreement with GLPI in 2022, worth $10.5 million per year, that would fund up to $175 million in shared improvements.
A’s with Allegiant Stadium, the A’s will eventually donate the land to the Las Vegas Stadium Authority once the project is complete.
The situation would eventually benefit Bally’s Corp., as they have plans to build a new hotel-casino on the remaining 26 acres on the site after the stadium is built. Once completed, the new hotel would be a 1,500-room hotel-casino across the stadium. The hotel casino would be separate from the ballpark.
According to a source, the original stadium construction timeline began in 2024 with an opening date of 2027, which could be pushed to 2028 if the timeline changes.
Having moved their Las Vegas ballpark a mile east on Tropicana Avenue, the Oakland Athletics will bring more than a major league team to the south Strip. The stadium will see increased traffic during home games and other events.
According to the latest data from the Nevada Department of Transportation, 68,500 vehicles traveled by Tropicana Avenue just west of Koval Lane in 2021, the closest traffic counting station to Trop. In 2017, there were 90,000 vehicles per day, but there will be more traffic when an event is held at the new stadium.
The 18,000-seat T-Mobile Arena has done an incredible job with traffic arriving and leaving games and events. As the T-Mobile team did, and as they’ve done at Allegiant Stadium, it’s likely that the A’s will figure out the best traffic plan, and fans will figure out their preferred means of getting to and from games in time.
If the A’s work out a deal similar to the Raiders with MGM Resorts, there will be plenty of parking at the resorts near the ballpark, including MGM Resorts, New York-New York, Excalibur, Park MGM, Luxor, and Mandalay Bay. For Allegiant Stadium events, these properties charge more for parking, and they could do the same for A’s games.
From the resorts, pedestrian bridges will cross Las Vegas Boulevard and Tropicana to provide easy access to the ballpark.
A route to the Tropicana is also planned by the Boring Company, which is likely to be the first phase of the Vegas Loop outside of the Las Vegas Convention Center. The Boring Co. has plenty of time to get the loop up and running since the A’s plan to begin playing at the new stadium as early as 2027.
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