JohnnyQ
JohnnyQ
Joined: Nov 3, 2009
  • Threads: 248
  • Posts: 3709
January 29th, 2022 at 2:10:15 PM permalink
https://www.thestreet.com/investing/another-las-vegas-strip-casino-likely-to-be-demolished?puc=yahoo&cm_ven=YAHOO

From the Article:

Bally's bought the non-land assets of the Tropicana from Gaming and Leisure Properties, Inc. (GLPI) - Get Gaming and Leisure Properties, Inc. Report back in April 2021. The hotel, which sits on the Las Vegas Strip, sold for $150 million and Bally has agreed to lease the land underlying the casino from GLPI for $10.5 million per year, subject to increases over time.

When that deal went down, Ballys was vague about its plans for the classic, but aged, casino.

"Landing a preeminent spot on the Las Vegas Strip is a key step for us. The Strip is visited by over 40 million players and guests per year, which we believe will significantly enhance Bally's customer base and player database, as well as unlock marketing opportunities to leverage the iconic Bally's brand," said Bally's CEO George Papanier in a news release.

Now, new details have come out as to what Bally's expects to do with Tropicana.

"Casino operator Bally’s Corp., which is buying the Strip resort, would 'almost certainly' look to rename the property Bally’s and likely look to redevelop the hotel-casino, Chairman Soohyung Kim told the Las Vegas Review-Journal on Jan. 26. "He said management has not determined what it will do with the property but would consider anything from renovating the 1,470-room resort to 'knocking it down and starting over.'"

Kim called knocking down the property and building something entirely new a possible way to “maximize value.”
Like the castle in its corner In a medieval game; I foresee terrible trouble And I stay here just the same
JohnnyQ
JohnnyQ
Joined: Nov 3, 2009
  • Threads: 248
  • Posts: 3709
January 29th, 2022 at 2:11:07 PM permalink
ooops duplicate
Like the castle in its corner In a medieval game; I foresee terrible trouble And I stay here just the same
Gialmere
Gialmere
Joined: Nov 26, 2018
  • Threads: 42
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January 29th, 2022 at 2:42:12 PM permalink
They'd be fools not to rebuild imho. The Trop hasn't been "must visit" since the days when "Diamonds Are Forever" was playing in theaters. Now we're well into the 21st century and they have a corner lot on the busiest intersection in the state of Nevada. Bring on the implosions.
Have you tried 22 tonight? I said 22.
billryan
billryan
Joined: Nov 2, 2009
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January 29th, 2022 at 4:20:31 PM permalink
Does anyone know if there are height restrictions being so close to the Executive side of the airport?
The difference between fiction and reality is that fiction is supposed to make sense.
Dieter
Administrator
Dieter
Joined: Jul 23, 2014
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January 29th, 2022 at 4:50:52 PM permalink
I believe the FAA has to evaluate any construction plans that close to an airport.
May the cards fall in your favor.

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