Bally’s to pay $308M for Tropicana hotel on Las Vegas Strip | Organization







FILE – In this Aug. 4, 2015, file picture, daylight illuminates a sign at the Tropicana lodge and on line casino in Las Vegas. The Tropicana Las Vegas Resort and On line casino is being bought. Bally’s Corp. announced Tuesday, April 13, 2021, it will receive the legendary Las Vegas Strip house from Gaming and Leisure Homes Inc. for about $308 million.







FILE – In this Jan. 15, 2009 file photograph a guy walks previous a signal advertising Les Folies Bergere show at the Tropicana in Las Vegas. The Tropicana Las Vegas Lodge and On line casino is getting sold to Bally’s Corp. The business introduced Tuesday, April 13, 2021, it will get the legendary Las Vegas Strip home from Gaming and Leisure Qualities Inc. for about $308 million. It was property for almost 50 years to the “Les Folies Bergere” a glittery and feathery topless revue that includes quintessential Vegas showgirls that shut in 2009.
LAS VEGAS (AP) — The Tropicana Las Vegas Hotel and On line casino, a Sin Metropolis namesake, is staying bought to a new entrant amid Las Vegas Boulevard resort owners.
Rhode Island-dependent Bally’s Corp. introduced Tuesday it will acquire the legendary Strip assets from Gaming and Leisure Attributes Inc. for about $308 million.
The arrangement for the nearly 1,500-home resort, on line casino, theater and conference residence also will involve a sale-and-leaseback transaction relating to Bally’s Black Hawk, Colorado and Rock Island, Illinois, casino attributes, the firm explained.
“Landing a preeminent place on the Las Vegas Strip is a key step for us,” George Papanier, Bally’s president and CEO, mentioned in a assertion.
Bally’s Corp. does not personal Bally’s Las Vegas on the Strip. That 2,800-home house at Flamingo Road is owned and operated by Caesars Amusement Inc.
Papanier pointed out that Las Vegas attracts additional than 40 million vacationers a yr and reported possessing the Tropicana will enhance Bally’s consumer and player databases, unlock advertising and marketing opportunities and gain Bally’s on line and interactive enterprise.
Bally’s also introduced a deal to blend with London-dependent on-line gaming operator Gamesys Team plc.