The gaming behemoth, Bally’s, has finally secured its spot on the illustrious Las Vegas Strip! They’ve acquired the legendary Tropicana Hotel for a hefty $148 million, taking control from Penn Entertainment and Gaming & Leisure Properties.
This agreement, in the works since its initial unveiling in 2021, grants Bally’s a coveted piece of Sin City property. Their lease agreement is a steal – a mere $10.5 million annually – but the true victory lies in the distinction of having a foothold on the globally renowned Strip.
Curiously, a Bally’s already exists in Vegas, a vestige of the company’s former iteration as Bally Manufacturing. However, that’s ancient history – Caesars Entertainment now holds ownership and is transforming it into Horseshoe Las Vegas.
Regarding the Tropicana, Bally’s is remaining tight-lipped about its intentions. Will they retain the existing name or opt for a complete rebranding? What is certain is their commitment to a substantial overhaul, aiming to elevate this diamond in the rough into a shining gem.
With an astounding 40 million annual visitors to the Strip, Bally’s is wagering heavily on the Tropicana to become their western flagship and attract a fresh wave of patrons.
This expansive, 35-acre tropical oasis situated directly on the Strip, at the intersection of Las Vegas Boulevard and Tropical Avenue, features almost 1,500 accommodations and a colossal gaming floor that could easily consume days of exploration. Should your visit be business-oriented, rest assured, they offer in excess of 100,000 square feet designated for meetings.
