August 18, 2026 - 12:18 pm

Bally’s Corp. is prepared to move forward with Phase 1 of its mixed-use development surrounding the Athletics’ Las Vegas ballpark — unless there is a last-second deal from a buyer to purchase the project, according to a person with knowledge of the situation.

A buyer has expressed interest in buying Bally’s rights to the $1.1 billion, multi-phase project that is expected to be built on 26 of the 35 acres of the former Tropicana hotel site, a source told the Las Vegas Review-Journal. The source was not at liberty to disclose the identity of the interested party.

A deal was not imminent as of Tuesday morning, but one would need to be agreed upon before Thursday’s Las Vegas Stadium Authority board meeting to keep the project on track to have Phase 1 open in 2028 along with the A’s ballpark, the source said.

If a deal is not struck by Thursday, Bally’s is ready to move ahead with the project. It has completed its Phase 1 plans, which include a multilevel podium on the northwest corner of the site that will feature parking on three levels and topped by a plaza with retail, entertainment and dining options as well as the main entrance to the stadium, the source said. Later phases include a 2,500-seat theater, a hotel tower and casino and additional retail, entertainment and dining options.

Bally’s is confident that it has the financial backing pledged by its partners to move forward with the first phase. Some permits have been pulled, and more are scheduled to be pulled soon, and the company is also waiting for Federal Aviation Administration approval of its plans, the source indicated.

Steve Hill said last week during the Las Vegas Convention and Visitors Authority meeting that he expects representatives of the A’s, Bally’s and landlord Gaming and Leisure Properties Inc. (GLPI), to be present to provide an update on the northwest plaza at Thursday’s stadium authority meeting.

“We have asked the A’s and Bally’s GLPI for a definitive plan as it relates to the entrance to the stadium,” said Hill, who is president and CEO of the LVCVA and serves as chairman of the stadium authority. “We think it’s important that the plan uphold the standard that’s in the law that the stadium be a premier world-class stadium.”

In May, the A’s took over responsibilities from Bally’s for the first phase of a planned parking garage to be built on the southeast corner of the site and a central utility plant to be constructed next to that. A second phase would add space to the garage and utility plant that would be used for Bally’s project and would be the responsibility of the gaming company.

In December, Bally’s was awarded a lucrative New York gaming license, and it has already contributed over $800 million into that project, which has not started construction. Bally’s sees the $4 billion New York project as very attractive, and it remains confident that it will be able to fulfill its remaining obligations to get the project going, the source said.

In a filing to the Securities and Exchange Commission on Friday, the company noted there was growing concern about its ability to move forward and that it may need to seek capital-raising opportunities.

If Bally’s were able to sell its Las Vegas project, that could provide a funding boost for the New York project. Bally’s is also building an integrated resort in Chicago.

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.