Oakland A’s Reportedly Bidding for Las Vegas Stadium at Tropicana
Posted on: December 1, 2021, 12:20h.
Last updated on: December 1, 2021, 12:56h.
Las Vegas could be on the brink of pilfering another professional sports franchise from Oakland. A report has surfaced that the Oakland Athletics (A’s) are bidding for a stadium at the site of the Tropicana Las Vegas Hotel and Casino.
CNBC’s Contessa Brewer reported Wednesday broke the news earlier today. Rumors are already flying that Major League Baseball (MLB) will approve the move if that’s the direction the franchise decides to take.
In late November, it was revealed the A’s made an offer on an unidentified property in the Las Vegas area. President Dave Kaval confirmed the bid, but declined to say exactly where that land is. He did note that a new stadium in the US gaming hub could cost approximately $1 billion.
The A’s are encountering difficulty with plans for a new waterfront stadium in their home city, where the team has played since 1968. MLB Commissioner Rob Manfred previously told the team that if it cannot solidify its situation in Oakland, it should explore other options.
A’s Could Be What’s Next for Tropicana
The operating rights to the Tropicana changed hands in April, with Bally’s (NYSE:BALY) acquiring those rights from Penn National Gaming (NASDAQ:PENN). The real estate assets are still owned by Gaming and Leisure Properties (NASDAQ:GLPI).
At that time, Bally’s Chairman Soo Kim hinted that there’s more in store for the famed gaming venue — the operator’s first in Las Vegas. For some time, Bally’s has been one of the most acquisitive companies in the gaming industry. The company’s purchases span land-based casinos to online gaming entities to technology companies — all in the name of vertical integration.
While Bally’s won’t have any part in operating the A’s, having a franchise from one of the four major US sports leagues near the Tropicana could be one of the jolts the gaming venue needs.
CNBC also reported that sites owned by Caesars Entertainment (NASDAQ:CZR) and Wynn Resorts (NASDAQ:WYNN) are also being evaluated by the A’s. But speculation is already mounting that the Caesars property is out of the running.
Another Blow to Oakland
If the A’s find their way to Sin City, that would be the second professional team to move to Las Vegas from Oakland, with the other being the Las Vegas Raiders.
The A’s stadium lease in Oakland expires in 2024, so a move before then is unlikely. Even if that is the year in which the team moves, it will likely need temporary accommodations before a new stadium is game-ready. Las Vegas Ballpark, home of the Las Vegas Aviators — the A’s Triple-A affiliate — has been mentioned as a possible temporary field for the pro team.
Assuming the A’s make the move and commence playing in Las Vegas in 2025, that means that in the span of seven years, Oakland lost MLB, NBA, and NFL teams. The NBA’s Golden State Warriors moved across the bay to San Francisco prior to the 2019-20 season.
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