Officials from Bally’s and Gaming and Leisure did not respond to requests for comment. With no concrete proposal and touch-and-go negotiations ongoing, sources spoke to The Nevada Independent on the condition of anonymity. No legislation to do so has been introduced with 28 days remaining in the state’s 120-day legislative session, and Democratic legislative leaders said last week that they are still awaiting solid details from the team and would likely need it by this week.Ī source briefed on the knowledge of the plans said the tax package structure is similar to the one planned for the original site, “but work still needs to be done to finalize the language.” Joe Lombardo for a financing package covering a portion of stadium construction costs. (Jeff Scheid/The Nevada Independent)Įven with the lower public funding request, the team is still likely to look for approval from state lawmakers and Gov. Tropicana hotel-casino seen on Tuesday, May 9, 2023. This is what we’re working on,” a source familiar with the negotiations said in regard to the team dropping the focus on the Red Rock land. Bally’s pays Gaming and Leisure annual rent of $10.5 million under a 50-year lease agreement. The team announced that it had reached a “binding agreement” with Red Rock Resorts in mid-April to acquire land to house the stadium, but recently moved to revisit other potential stadium sites.īecause real estate investment trust Gaming and Leisure Properties owns the land that is leased to Bally’s, the A’s would no longer have to pay land acquisition costs. The A’s were initially looking to secure legislative support for a $500 million public funding package involving tax credits and the creation of a special taxation district to help fund stadium construction. Sources with knowledge of the negotiations told The Nevada Independent on Tuesday that under the scope of the deal, Bally’s plans to demolish the Tropicana and allow the A’s to construct a 35,000-seat retractable roof stadium on 9 acres of the 34-acre site on Tropicana Avenue near the southern end of the Las Vegas Strip. have an agreement in place for the team to build a $1.5 billion stadium on a portion of the Tropicana Las Vegas site, a move expected to reduce the amount of public financing sought for the project to $395 million.

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