As the Oakland Athletics (A’s) prepare to migrate to Las Vegas, several operators around the Strip are awaiting further information with regards to the team’s design plans for a $1.5 billion stadium that will eventually occupy the space where the Tropicana currently resides.
Bill Hornbuckle, CEO of MGM Resorts, said on the company’s recent fourth-quarter earnings call that his company is waiting to see more definitive design renderings before it finalizes remodeling efforts at nearby MGM Grand.
MGM plans to remodel the MGM Grand’s main entrance, but if the stadium is built as planned, the idea would be to directly connect the two in some way if possible.
Per the Nevada Independent, Hornbuckle said he’s “been shown three versions” of renderings so far, and that MGM is “waiting to see where that lands.” He predicted that the process would be more clarified in a month or two.
MGM could potentially be the biggest beneficiary of the new park, as there are five company-owned properties in close proximity to the site, totaling over 13,000 guest rooms. Company representatives were reportedly heavily involved in the lobbying efforts needed to pass a $380 public funding bill for the stadium project in a special legislative session last summer.
At that time, preliminary renderings were released to lawmakers and the media, but the team has since rescinded them, saying they are not to be used as a reference moving forward.
According to the Independent, Hornbuckle said the MGM Grand entrance “needs some attention,” but acknowledged that it won’t be until the stadium designs are more concrete that the company will “get serious about what we might want to do.”
Another prominent player in the stadium limbo is Bally’s Corp., which announced recently that it will close the longstanding Tropicana on April 2 to make way for the new development. At the end of January, the company submitted closure paperwork to the state in which it said 744 employees were set to be laid off.
As part of the agreement between Bally’s, the A’s and Gaming and Leisure Properties (GLPI), which owns the real estate under the Tropicana, Bally’s reserves the right to develop a new casino resort on the remaining acreage once the stadium is complete. The stadium is only expected to encompass nine of the 35 total acres on the site.
Bally’s President George Papanier told investors on the company’s recent fourth-quarter earnings call that he is also awaiting new stadium renderings before starting the design process for resort concepts.
“The A’s are still finalizing their stadium plans and we just continue to evaluate our options for what we feel is a very valuable development land next to the stadium,” Papanier said, as reported by the Independent.
A’s President Dave Kaval has said previously that the team hopes to have new designs ready in time for spring training games that are set for March 8-9 at Las Vegas Ballpark between the A’s and Milwaukee Brewers.
