The Oakland Athletics agreed to locate their new baseball stadium on land just behind the Tropicana resort on the Las Vegas Strip, according to a statement from Bally’s Corp., which controls the property.
(Bloomberg) — The Oakland Athletics agreed to locate their new baseball stadium on land just behind the Tropicana resort on the Las Vegas Strip, according to a statement from Bally’s Corp., which controls the property.
The move is subject to approval from the league and would require legislation in Nevada to provide public funding, according to the company. The team, which is leaving Oakland after failing to reach a new deal for a property there, has discussed building a new $1.5 billion stadium in Las Vegas.
Bally’s, which leases the Tropicana land from Gaming & Leisure Properties Inc., a real estate investment trust, won out over other potential sites, including property owned by Red Rock Resorts Inc.
Gaming & Leisure has agreed to provide up to $175 million toward improving the land. The proposed stadium, with seating for 30,000, will occupy about nine acres of the 35-acre site. It’s expected to draw 2.5 million fans and visitors to the city annually.
The team and stadium add to the growing roster of major sports franchises in Las Vegas. The city, America’s gambling capital, has already attracted professional hockey and football teams (the former Oakland Raiders) in new arenas near the Strip. The city will host a Formula One Grand Prix in November and the Super Bowl next year.
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