The legendary Tropicana Las Vegas welcomes a new proprietor! Gaming behemoth Bally’s has at last finalized its $148 million purchase of the resort’s “operational holdings” from Penn Entertainment and Gaming & Leisure Properties (GLPI). The transaction, initially unveiled in April 2021, had been traversing a protracted regulatory course, encompassing securing approval from the Nevada Gaming Control Board.
This procurement is a rather significant move for Bally’s, granting them a sought-after location on the Las Vegas Strip. Intriguingly, a Bally’s hotel already graces Vegas, a vestige of the company’s prior existence as Bally Manufacturing. Nevertheless, that establishment is presently held by Caesars Entertainment and is, in fact, undergoing a rebranding as Horseshoe Las Vegas.
Regarding the Tropicana, Bally’s has not disclosed whether they will retain the moniker or embark on a transformation. However, when the agreement was declared last year, George Papanier, then-President of Retail, alluded to a “substantial renovation of the property.” He underscored the significance of the Strip’s 40 million yearly patrons, perceiving it as a treasure trove for broadening Bally’s clientele. Papanier even envisioned the Tropicana evolving into their premier property in the western United States, a springboard for further ventures in the area.
This expansive hotel, situated where the Strip intersects with Tropicana Avenue, offers a touch of the islands. It features close to 1500 guest rooms, a seemingly endless casino floor, and ample conference facilities to accommodate a minor metropolis.
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