After revealing its first quarter results this week, representatives provided an update on Bally’s Tropicana Redevelopment plan as well as giving a timeline for its new Chicago casino.
Bally’s Tropicana Redevelopment
It was recently announced that the iconic Tropicana Casino in Las Vegas is set to be imploded later this year, with the site making room for a new Bally’s development.
Taking charge of the new plot in the heart of Las Vegas is Bally’s and this week the company provided an update on the redevelopment project with its interests currently lying elsewhere.
Bally’s treasurer Charles Diao announced in a statement that: “We have absolutely no urgency [to begin the redevelopment] whatsoever, as our option increases in value.”
The treasurer confirmed that the plot in Vegas will only increase in value as they wait to begin the project – so Bally’s is in no hurry to move things along.
Nine acres of land at the Tropicana has already been reserved for a new baseball stadium, which should home an MLB franchise within the next few years.
Bally’s Provides Update On Chicago Casino
Number one priority for Bally’s right now is its Chicago casino, which is currently being built with a September 2026 opening date in mind.
Unfortunately for Bally’s and the city of Chicago, there is currently a need for $800million in funding which is delaying the project and bringing the company’s project into doubt.
The entertainment company currently operates a temporary casino out of Medinah Temple in Chicago which has reported an impressive six month period of increases in gross gaming revenue since first opening.
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