Bally’s Corporation is considering a possible sale of its planned mixed-use development next to the Athletics’ new Las Vegas ballpark, as the casino group looks for additional capital while funding several major projects across the US.
An unidentified buyer has shown interest in acquiring Bally’s development rights for roughly 26 acres of the former Tropicana Las Vegas site, according to the Las Vegas Review-Journal. The Athletics are developing their new stadium on approximately nine acres of the wider 35-acre property.
No transaction had been agreed when the interest was reported. Any deal would need to be resolved around the Las Vegas Stadium Authority’s 20 August meeting if the timetable for the first phase is to remain aligned with the ballpark’s planned 2028 opening. Bally’s is reportedly prepared to continue with the project itself if a sale does not materialise.
First Phase Designed Around A’s Stadium
Bally’s has estimated the Las Vegas development at approximately $1.19 billion.
The first phase is expected to centre on a multilevel structure on the northwest portion of the site. Plans include three parking levels beneath a plaza containing retail, food, entertainment and other commercial space. The development would also provide one of the main access points to the Athletics’ stadium.
Later stages are intended to add a hotel, casino, approximately 2,500-seat entertainment venue and further retail and leisure facilities. Permit filings have pointed to completion of parts of the broader development around 2030.
Bally’s acquired the operating assets of Tropicana Las Vegas in 2022 for roughly $145 million, while Gaming and Leisure Properties retained ownership of the land. The Tropicana was later demolished as part of plans to redevelop the site around the new MLB stadium.
GLPI has also committed up to $175 million toward eligible construction costs connected with the redevelopment, including demolition, site preparation and certain public areas needed to support the stadium.
Financing Pressure Adds Urgency
The possibility of a Las Vegas sale comes as Bally’s faces growing pressure on its balance sheet.
In its second-quarter reporting, the company said it would need additional financing to meet liquidity requirements connected with its revolving credit facility. Without further funding, Bally’s warned it could fail to meet required liquidity levels and potentially breach its leverage covenant during the next 12 months.
The company has identified several possible ways to strengthen its finances, including asset disposals, new equity and additional debt.
Bally’s reported $792.2 million in second-quarter revenue, up 20% year-on-year, but cash use remained significant. Cash and restricted cash fell from $906.7 million at the beginning of 2026 to $487.8 million at the end of June, while the company used $265.9 million in operating cash during the first half of the year.
The group is simultaneously funding or arranging financing for large developments in Chicago and New York.
Bally’s has committed major capital to its planned $4 billion casino resort in the Bronx, including a $500 million gaming licence fee and a $115 million payment connected with the golf-course concession. The company has been pursuing additional debt and equity financing for that development.
Its permanent Chicago casino also carries a minimum investment commitment of $1.34 billion, although GLPI is providing up to $940 million for eligible construction costs through a financing arrangement. Approximately $400 million of Bally’s minimum spending commitment remained outstanding as of its latest update.
Selling the Las Vegas development could therefore give Bally’s another source of capital while reducing the amount it must commit to its expanding US development pipeline. For now, however, the company remains positioned to proceed with the first phase itself unless negotiations with the potential buyer produce an agreement.