As the Tropicana Resort and Casino prepares to shutter its doors on April 2, the Nevada Gaming Control Board is gearing up for a pivotal moment in Las Vegas’ history. The closure of the storied Strip establishment marks the beginning of a new chapter, as plans are underway for the construction of a baseball stadium to accommodate the relocation of the Oakland Athletics.
Control Board Chairman Kirk Hendrick revealed that board agents will be present onsite at the Tropicana during its closure, ensuring compliance with regulatory requirements. Bally’s Corp., the licensee responsible for the operation of the resort, is mandated to submit a confidential closure plan to the board, although details regarding the submission remain undisclosed.
“In Las Vegas, the formal closure of the Tropicana on April 2 will pave the way for the demolition of the casino and hotel over the coming months with the support of our financing partner, GLPI,” stated Bally’s CEO Robeson Reeves during the company’s fourth-quarter earnings call.
GLPI, or Gaming and Leisure Properties, the real estate investment trust that owns the land beneath the Tropicana, is poised to facilitate the demolition process as part of the redevelopment initiative. Reeves outlined the subsequent steps, indicating that construction of the Las Vegas A’s stadium is expected to commence following the demolition and site preparation phase.
While Bally’s executives provided limited details regarding the Tropicana shutdown, they affirmed their commitment to navigating the complex landscape of development projects in Las Vegas and beyond. Reeves hinted at ongoing assessments of available options for the development lands adjacent to the planned stadium.
Amidst the anticipation surrounding the Tropicana closure, questions loom regarding the fate of the resort’s 744 employees, who have been informed of impending layoffs under the federal Worker Adjustment and Retraining Notification Act. Bally’s has indicated that affected employees may receive buyouts or job offers at other Bally’s properties across the United States.
As discussions surrounding the demolition process and costs continue, Bally’s is simultaneously engaged in other development ventures, including the establishment of Chicago’s first-ever casino and the pursuit of a casino license in downstate New York. Additionally, the company is set to launch internet gambling in Rhode Island on March 1, marking another significant expansion of its gaming portfolio.
Amidst these developments, the Nevada Gaming Control Board remains vigilant, ensuring regulatory compliance and oversight throughout the closure process. Agents will be tasked with inventorying casino assets, supervising procedural protocols, and coordinating with licensees to facilitate a seamless transition.
