Bally’s Considers Selling Las Vegas Ballpark Development Rights
No deal has been announced
Bally’s Corporation is weighing a sale of its development rights around the Athletics’ planned Las Vegas ballpark as it looks to ease pressure on its capital plans, the Las Vegas Review-Journal reported.
The 26-acre project on the former Tropicana site is valued at about $1.1 billion and remains tied to the A’s targeted 2028 opening.
Capital Pressure Builds
In an August 14 filing with the US Securities and Exchange Commission, Bally’s said it had growing concern about its liquidity and could need to pursue capital-raising opportunities.
A potential buyer is reviewing the Las Vegas rights, though no deal has been announced.
If a transaction is not reached before Thursday’s Las Vegas Stadium Authority meeting, Bally’s is prepared to move ahead with phase one.
Phase One Remains Ready
That opening stage would centre on a multi-level podium at the north-west corner of the site, with three levels of parking and a plaza above for retail, dining and entertainment.
The plaza would also serve as the stadium’s main entrance. Some permits are already in hand and Bally’s is awaiting Federal Aviation Administration approval. The company believes it has enough partner funding to proceed if needed.
