When you only have 4.2 miles of valuable land to run some of the most prosperous firms in the world, something old often has to be destroyed to create room for something new.
On the Las Vegas Strip, where many storied casinos have been demolished to make room for new construction, that has long been the tale.
Numerous casinos have been located in Las Vegas, some of which are remembered more favorably than others. Some buildings discreetly terminate their lives by merely switching owners and saying goodbye to well-known individuals who may return in the future. Others have seen a more dramatic end by implosion, both on the Strip and in the area of Las Vegas.
In the 1990s, the Sands, Hacienda, Landmark, Dunes, and Aladdin were all demolished. MGM Resorts International’s (MGM) – Get Free Report moved to Hacienda. Caesars Entertainment’s (CZR – Get Free Report) Planet Hollywood used to be located at the Aladdin property, whereas Mandalay Bay is currently there. In the 2000s, collapse brought to the loss of El Rancho, Dessert Inn, Castaways, Bourbon Street, Boardwalk, Stardust, and New Frontier.
There are numerous well-known names on the last, but probably none is as well-known as the Tropicana, a Strip landmark merely by virtue of its existence since the 1950s. You might describe the building as a throwback, a nod to Las Vegas’s past, or an outdated relic in desperate need of modernization, but that modernization won’t take place.
The renowned casino will close as a result of an unexpected agreement between Bally’s Corp. (BALY) – Get Free Report, which owns the operational rights to the 35-acre property, and the Oakland Athletics. According to the Las Vegas Review-Journal, it will be destroyed to make room for a $1.5 billion, 30,000-seat baseball stadium for the baseball franchise.
Little at the historic resort casino altered once the purchase was completed, with the exception of signage indicating that Bally’s replaced Penn National’s loyalty program.
Bally’s President George Papanier informed the Nevada Gaming Commission that the business wanted to utilize Tropicana as its western flagship site after the acquisition was finalized, according to Casino.org.
He did mention that the business will take a break for 18 to 24 months to reevaluate its possibilities. At the time, it was evident that those possibilities included remodeling, demolishing and rebuilding, or building an A’s baseball stadium.
Although neither the A’s nor Bally’s have yet commented on the agreement, it now looks that the stadium will take the place of the Tropicana on 9 of the site’s 35 acres.
