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Bally’s Corp. To Plant Roots on Las Vegas Strip with Purchase of Tropicana

 

The Rhode Island based gaming company, Bally’s Corporation, announced the completion of the previously announced acquisition of the Tropicana Las Vegas from Gaming & Leisure Properties, Inc  and PENN Entertainment, Inc. on Sept. 27.

In a press release, Bally’s announced it will pay $148 million in cash to Gaming and Leisure Properties, Inc and will lease the 35-acre parcel of land on the corner of Tropicana Boulevard and Las Vegas Boulevard for 50 years at annual rent of $10.5 million.

The Tropicana Las Vegas Hotel and Casino includes 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.

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