Subscribe

Get Started

Learn more about Credit Cards, Travel Programs, Deals, and more.

Start Here
Credit Cards
Las Vegas

Bally’s To Purchase Tropicana Las Vegas Hotel And Casino

DDG
DDG

Enjoy MtM's content? Shop Amazon and we earn a commission!

Find all of the latest deals.
Shop now!
This post may contain affiliate links - Advertiser Disclosure. As an Amazon Associate, we earn from qualifying purchases.

Bally's To Purchase Tropicana Las Vegas

Bally’s To Purchase Tropicana Las Vegas Hotel And Casino

Bally’s has announced that it has agreed to purchase the Tropicana Las Vegas, Nevada casino from Gaming and Leisure Properties, in a transaction to be valued at approximately $308 million. The purchase price for the Tropicana property’s non-land assets is $150 million.

In addition, Bally’s has agreed to lease the land underlying the Tropicana property from GLPI for an initial term of 50 years at annual rent of $10.5 million, subject to increase over time.

The agreement also involves a sale-and-leaseback transaction relating to Bally’s Black Hawk, Colorado, and Rock Island, Illinois, casino properties, the company said in a press release.

The transaction is expected to close in early 2022. Bally’s is already licensed in Nevada as a result of the recently closed acquisition of the MontBleu Resort Casino & Spa.

“Landing a preeminent spot on the Las Vegas Strip is a key step for us,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “The Strip is visited by over 40 million players and guests per year, which we believe will significantly enhance Bally’s customer base and player database, as well as unlock marketing opportunities to leverage the iconic Bally’s brand. This expansion will also support the growth and development of our online and interactive business. We look forward to exploring significant redevelopment of the property, which we believe will enhance its financial profile.”

The Tropicana Las Vegas Hotel and Casino is located in Las Vegas, Nevada on a 35-acre parcel on the corner of Tropicana Boulevard and Las Vegas Boulevard. The property boasts 1,470 guest rooms, 50,000 square feet of casino space with 1,000 gaming positions, a 1,200 seat performance theater and 100,000 square feet of convention and meeting space.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

 Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now bonus_miles_full

Learn more about this card and its features!

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related

7,703FansLike
9,903FollowersFollow
16,444FollowersFollow

At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

Disclaimer - Miles to Memories & the author are not credit providers and do not provide personal financial or professional advice or credit assistance. The information published on this site/page is of a general nature only and does not consider your personal objectives, financial situation or particular needs.

All information published here is personal opinion and comes from personal experience. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. ESR Media, LLC, Miles to Memories and the author strongly recommend that you seek independent advice before you apply for any product or service, which is described on the site/page.

Editorial Note - Opinions expressed here are the author's alone, not those of any partner bank, credit card issuer, hotel, airline, or other partner. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.