When you only have 4.2 miles of precious land to run some of the most successful businesses in the world, something old often has to be destroyed to make room for something new. This has always been the story on the Las Vegas Strip as many of the most popular casinos have been blown up to make way for something new.
Las Vegas was home to dozens of casinos, some of which are still more fondly remembered than others. Some properties meet their end quietly once they change owners and retire with a name well known perhaps to bring it back in the future. Others, both on the Strip and around Las Vegas, met a more dramatic demise through implosion.
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The Dunes, The Landmark, The Sands, Hacienda, and Aladdin were dropped in the 1990s with the Hacienda becoming the site of MGM Resorts International’s (MGM) – Get a free report Mandalay Bay while the Aladdin site now hosts Caesars Entertainment’s (CZR) – Get a free report Planet Hollywood. In the 2000s, El Rancho, Desert Inn, Castaways, Bourbon Street, Boardwalk, Stardust, and New Frontier all met their demise through implosion.
There are some big names in the latter, but perhaps none quite as big as The Tropicana, a symbol of the strip simply because it’s been around since the 1950s. You could describe the property as a blast from the past, a reminder of Las Vegas history or a dated antique in desperate need of an update, but this update just won’t.
A surprise deal between Bally’s Corp. BALY which has operating rights to the 35-acre site and Oakland Athletics will spell the end for the popular casino. It will be demolished to make way for a $1.5 billion, 30,000-seat football stadium for the baseball team, Las Vegas Journal Review mentioned.
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Las Vegas Strip loses to Tropicana, wins titles
The A originally had a deal with Red Rock Resorts ($$$$) – Get a free report For a stadium just outside the Strip at Tropicana Avenue and Dean Martin Drive that used to host Station Casinos Wild Wild West. That deal was dependent on the team dropping $500 million in public finds to improve access to the site.
With the new location on the Strip surrounded by Caesars and MGM properties, the team is now seeking just $395 million in public funds, according to the paper. Any money must still be approved by the Nevada State Legislature, and there is no guarantee that this will happen.
If public money is approved, the team is expected to build a stadium with a retractable dome. The 30,000-seat stadium is relatively small by Major League Baseball standards, but the limited first-class seating likely makes a great ticket and can drive prices up when there are opponents like the New York Yankees and Boston Red Sox in town.
A sad end to Tropicana in Las Vegas
The Trop, as it’s known, has had a questionable future since late last year when Baly acquired the operating rights to the property from Penn National Gaming. (the pen) – Get a free report. When that deal closed, not much had changed at the historic resort’s casino aside from signs about the Bali loyalty program that replaced Penn National.
When the deal closed, Bally’s president, Georges Papanier, told the Nevada Gaming Commission that the company intended to use Tropicana as its main western property, Casino.org mentioned.
He made it clear that the company plans to step back for another 18-24 months to consider its options. At the time, it was clear that these options would include remodeling, demolishing and rebuilding, or a baseball field for first-class teams.
Now, while neither the A’s nor Bally have commented on the deal, it appears the stadium will replace the Tropicana on 9 of the 35 acres on the site. However, Bally’s will retain the rights to build a new resort casino on the remaining space, according to the Review-Journal.