Bally’s Decision to Sell Tropicanaīrandt Montour, Barclay’s Equity Research Analyst Director asked during the call if Bally’s would sell its lease, form liquidity to finance its projects, or buy equity. Nevertheless, the distinct proposed development project excites them as it offers great strategic opportunities. The company’s President, George Papanier stated in the earnings call that they won’t make reinvestment announcements before knowing their plans’ outcome. Yet, Bally’s isn’t planning to develop Tropicana now. The A’s require approval before constructing the stadium. The team is planning to move to Las Vegas soon. It sits on a nine-and-a-half-acre parcel of land and the Oakland A’s are interested in constructing a Major League Baseball (MLB) baseball stadium there. The company currently runs the gaming property on the southeast of Las Vegas Blvd and Tropicana Avenue.
It disclosed last week in its third-quarter earnings call that it is ready to sell its Tropicana Las Vegas lease. Bally’s Corporation is among the leading gaming operators in the United States.
