Gaming and Leisure Properties Show Optimism for A’s Relocation to Las Vegas

In a landmark decision, the Major League Baseball (MLB) owners voted unanimously to approve the move of the Oakland Athletics (A’s) to Las Vegas. Gaming and Leisure Properties (GLPI), the owner of the land on which a new stadium will be built, expressed their support for the decision.

The new stadium, expected to open before the 2028 MLB season, will be situated on nine acres of land currently occupied by the Tropicana Las Vegas casino hotel, operated by Bally’s. The approval of the A’s move to Las Vegas seals the fate of Tropicana, which is likely to be demolished to make way for the new stadium. This opens up the possibility of a new gaming venue near the ballpark.

A statement issued by GLPI referred to the arrival of the A’s and the new stadium as a “transformational project,” emphasizing the positive impact it will have on the city, baseball fans, the local community, and employment opportunities. The company has long been bullish on the stadium project and has committed $175 million in financing, with the potential for further investment.

Bally’s, which acquired Tropicana’s non-real estate assets from GLPI in 2021, has a 50-year lease for the property and may receive compensation from GLPI as a result of the stadium project. However, it remains to be seen how the casino landlord’s recent sale of $400 million worth of corporate debt will impact the financing of the stadium.

With the addition of the A’s, Las Vegas will soon be home to four professional sports teams, three of which relocated from other cities. The NBA is notably absent from the city’s roster of pro teams, but expansion into Las Vegas could be on the horizon.

Overall, the move of the A’s to Las Vegas and the construction of a new stadium represent a significant development for the city and its sports scene. With the potential for further developments, including the possibility of an expanded presence from other professional leagues, Las Vegas is positioning itself as a major player in the world of sports.