Bally’s pays Gaming and Leisure annual rent of $10.5 million under a 50-year lease agreement. The team announced that it had reached a “binding agreement” with Red Rock Resorts in mid-April to acquire land to house the stadium, but recently moved to revisit other potential stadium sites.īecause real estate investment trust Gaming and Leisure Properties owns the land that is leased to Bally’s, the A’s would no longer have to pay land acquisition costs. The A’s were initially looking to secure legislative support for a $500 million public funding package involving tax credits and the creation of a special taxation district to help fund stadium construction. Sources with knowledge of the negotiations told The Nevada Independent on Tuesday that under the scope of the deal, Bally’s plans to demolish the Tropicana and allow the A’s to construct a 35,000-seat retractable roof stadium on 9 acres of the 34-acre site on Tropicana Avenue near the southern end of the Las Vegas Strip.
have an agreement in place for the team to build a $1.5 billion stadium on a portion of the Tropicana Las Vegas site, a move expected to reduce the amount of public financing sought for the project to $395 million.
