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Bally s buying Tropicana hotel on Las Vegas Strip for $308M
by Ken Ritter, The Associated Press
Posted Apr 13, 2021 1:48 pm EDT
Last Updated Apr 13, 2021 at 1:58 pm EDT
LAS VEGAS The Tropicana Las Vegas Hotel and Casino is being sold.
Bally’s Corp. announced Tuesday it will acquire the iconic Las Vegas Strip property from Gaming and Leisure Properties Inc. for about $308 million.
The agreement for the nearly 1,500-room hotel, casino, theatre and convention property also involves a sale-and-leaseback transaction relating to Bally’s Black Hawk, Colorado, and Rock Island, Illinois, casino properties, the company said.
“Landing a preeminent spot on the Las Vegas Strip is a key step for us,” George Papanier, Bally’s president and CEO, said in a statement.