Gaming and Leisure Properties President Brandon Moore cleared up any misconceptions about the company’s intentions on financing the development of its 35-acre Las Vegas Strip parcel where a new baseball stadium will be built.
The Oakland Athletics are on their own in financing a $1.5 billion Major League Baseball stadium that will take up 9 acres, Moore said.
Meanwhile, Bally’s Corp., which operated the since-demolished Tropicana Las Vegas but continues to lease the site from Gaming and Leisure for $10.5 million a year, unveiled plans to build an integrated resort on the remaining land.
Gaming and Leisure will determine its role at a later date.
Moore said the initial plans submitted to Clark County by Bally’s and the A’s for review earlier this month were the just initial step in the process. He said the outcome of that review would determine “how much, if any, additional dollars we’re either asked to provide, or more importantly, willing to provide to support the construction of the integrated resort.”
Ahead of the Oct. 9 implosion of the Tropicana, Moore said there were funds left over from the Pennsylvania-based real estate investment trust’s $175 million commitment toward its demolition that could be used to help develop the site’s non-stadium aspects.
