Bally’s Corp Buys Tropicana Las Vegas • This Week in Playing
Bally’s Company has bought the Tropicana Las Vegas for simply over $300 million, giving them their first property on The Strip. The settlement can be finalized someday early subsequent 12 months, pending regulatory approval.
The deal finds Bally’s paying $150 million for the constructing and belongings, then leasing the property from actual property funding belief Gaming and Leisure Properties for the subsequent 50 years. Gaming and Leisure Properties had bought Tropicana from Penn Nationwide Gaming simply final 12 months for a similar worth.
“The Strip is visited by over 40 million gamers and visitors per 12 months, which we imagine will considerably improve Bally’s buyer base and participant database…” stated George Papanier, CEO of Bally’s, including that “Touchdown a preeminent spot on the Las Vegas Strip is a key step for us.”
For extra on the acquisition of the Tropicana Las Vegas, go to iGaming North America.