Bally's Offers Little Progress on A's Ballpark
On Wednesday, Bally's Corp. held a quarterly earnings call, which was supposed to be the next step towards seeing what progress has been made by both Bally's and the Oakland A's in Las Vegas. The site that the A's are planning to build on is owned by Gaming and Leisure Properties, and is leased by Bally's for $10.5 million per year. The A's have been given nine acres of the 35-acre site to build their ballpark.
We found out last month that the Tropicana, which Bally's runs, is set to shut its doors on April 2. As reported by the Nevada Independent, Bally's President George Papanier said, "clearing the site was part of Bally’s “contractual arrangement” with the team."
That would suggest that the two sides are still working towards something, which is to be expected, but it doesn't mean, as many have suggested, that the hotel's closing means that the ballpark is a done deal. Much like the A's needed approval from MLB to relocate before early December last year as part of their contract with Bally's, this was part of the contract between the two sides, and the hotel was going to come down anyway. Something will be built at the site, but the "what" is still the question.
Papanier also said during the meeting (per the Independent), "The A's are still finalizing their stadium plans and we just continue to evaluate our options for what we feel is a very valuable development land next to the stadium."
Last month after being met with crickets at the Las Vegas Chamber of Commerce, A's owner John Fisher said that the team was waiting on Bally's to release their long-awaited renderings. Bally's has now stated twice that they are waiting on the A's.
So what came of this meeting? Not much that we didn't already know, and that should be worrisome to those waiting for a new ballpark in Las Vegas. This call was to discuss the finances from the previous quarter and you're going to try and pump your shareholders up when there is something on the horizon to get excited about. The fact that there is no new news a month after the Chamber meeting is not great.
The A's are desperately searching for an interim home, they haven't shown the public a financing plan, there are no solidified renderings, and they still need to agree to a community benefits package, a lease agreement, and development plans with the Las Vegas Stadium Authority.
There are a lot of hurdles that need to be cleared in the coming months in order for this thing to look like it will meet the deadlines ahead. If the A's are unable to get shovels in the ground by April of next year, then MLB Commissioner Rob Manfred will be "disappointed" because the ballpark wouldn't be on track to open for the 2028 season.
The fact that no progress has been made in the past month isn't a good sign, but it's not surprising either.