{"id":83493,"date":"2022-09-27T12:09:02","date_gmt":"2022-09-27T15:09:02","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2022\/09\/27\/ballys-finalizes-purchase-of-tropicana-las-vegas-for-148-million\/"},"modified":"2022-09-28T08:48:47","modified_gmt":"2022-09-28T11:48:47","slug":"ballys-finalizes-purchase-of-tropicana-las-vegas-for-148-million","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/casino-en\/2022\/09\/27\/ballys-finalizes-purchase-of-tropicana-las-vegas-for-148-million\/","title":{"rendered":"Bally&#8217;s finalizes purchase of Tropicana Las Vegas for $148 million"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Tropicana in Las Vegas has changed hands. Bally&#8217;s Corporation has completed a $148 million agreement to purchase the resort&#8217;s &#8220;non-land assets&#8221; from Penn Entertainment and Gaming &amp; Leisure Properties (GLPI).<\/p>\n\n<p class=\"wp-block-paragraph\">The takeover deal was signed in April 2021, but after a lengthy process that included approval from the Nevada Gaming Control Board (NGCB), Bally&#8217;s now controls the property adjacent to the Las Vegas Strip.<\/p>\n\n<p class=\"wp-block-paragraph\">And, it will lease the underlying property from GLPI for an initial period of 50 years, paying $10.5 million per year. This will earn Bally&#8217;s a foothold on the Las Vegas Strip.<\/p>\n\n<p class=\"wp-block-paragraph\">There is already a Bally&#8217;s Las Vegas, which was once owned by the company&#8217;s predecessor, Bally Manufacturing. However, it is currently owned by Caesars Entertainment and is undergoing a name change to Horseshoe Las Vegas.<\/p>\n\n<p class=\"wp-block-paragraph\">Bally&#8217;s has not said whether it will keep or change the Tropicana brand, but when the acquisition was announced last year, current retail president George Papanier said it will explore &#8220;significant redevelopment of the property.&#8221;<\/p>\n\n<p class=\"wp-block-paragraph\">\u201cThe Strip is visited by over 40 million players and visitors a year, which we believe will significantly increase Bally&#8217;s customer base and player database,\u201d Papanier commented at the time.<\/p>\n\n<p class=\"wp-block-paragraph\">Papanier also said more recently that the Tropicana will become Bally&#8217;s &#8220;primary property&#8221;, building on previous investments in the region. The Tropicana is located on the corner of Tropicana Avenue and Las Vegas Boulevard. It has 1,470 rooms, a <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> and ample space for conventions.<\/p>\n\n<h2 class=\"wp-block-heading\">About Bally&#8217;s Corporation<\/h2>\n\n<p class=\"wp-block-paragraph\">Bally&#8217;s Corporation is a global <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> entertainment company with a growing presence, including award-winning casinos and resorts, as well as a broad portfolio of digital <a href=\"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"Sports Betting\">sports betting<\/a> and <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> offerings.<\/p>\n\n<p class=\"wp-block-paragraph\">With approximately 10,500 employees spread across offices around the world, Bally&#8217;s Corporation is one of the fastest growing companies in the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Tropicana in Las Vegas has changed hands. Bally&#8217;s Corporation has completed a $148 million agreement to purchase the resort&#8217;s &#8220;non-land assets&#8221; from Penn Entertainment and Gaming &amp; Leisure Properties [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":83485,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3069],"tags":[5393,3251,10614],"class_list":["post-83493","post","type-post","status-publish","format-standard","has-post-thumbnail","category-casino-en","tag-ballys-en","tag-las-vegas-en","tag-tropicana-las-vegas-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bally&#039;s finalizes purchase of Tropicana Las Vegas for $148 million - iGaming Brazil<\/title>\n<meta name=\"description\" content=\"The Tropicana in Las Vegas has changed hands. Bally&#039;s Corporation has completed a $148 million deal to purchase the venture.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/2022\/09\/27\/ballys-finalizes-purchase-of-tropicana-las-vegas-for-148-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally&#039;s finalizes purchase of Tropicana Las Vegas for $148 million - iGaming Brazil\" \/>\n<meta property=\"og:description\" content=\"The Tropicana in Las Vegas has changed hands. 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