The Las Vegas Strip never ends. It’s a 24/7 environment where the game room never closes, the restaurants and entertainment options stay open until the wee hours of the morning, and just about every pleasure known to the man can be felt more or less at any time.
This 4.2 mile stretch of road has also been a place of endless change. Megaresorts, including Resorts World Las Vegas, are springing up from slabs of desert land, and venerable names like the Mirage will soon disappear to be replaced by a Guitar Hotel owned by Hard Rock International.
Construction on the Strip never stops and surprises are bound to happen. Fontainebleau, for example, a resort/casino on the northern strip, has followed a 20-year odyssey in which it has seemed doomed many times, only to be resurrected under its original owner. It is now on track to open in 2023.
One of the more unusual stories, however, was that of Bally, a Caesars Entertainment (CZR) resort/casino that literally bore the name of a rival company.
It is being fixed. Caesars removed the Bally’s name from the property when it transitioned to the first Horseshoe, another Caesars-owned brand, on the Las Vegas Strip.
As a Bally’s disappears, however, Bally’s Corp. (BALY) won’t let his name drop off the strip for long.
The company has reached an agreement to buy the Tropicana, which has just passed a major hurdle and now seems inevitable.
This purchase will bring the Bally’s name back to the Strip, in a sense, after its brief absence. But the company’s plans for this property – at least over the next two years – might surprise you.
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Goodbye Tropicana, hello Bally’s
The Nevada Gaming Commission voted Sept. 7 to approve Bally’s purchase of the Tropicana from Penn Entertainment (PENN) for $308 million, reported the Las Vegas Review-Journal. This agreement was first concluded in April 2021.
Once the deal is done, Bally’s won’t do much with it. Chief Executive Lee Fenton commented on his company’s plans for the property during Bally’s second quarter earnings call.
“So for Trop we said we will continue to operate the property. We obviously – I think it’s well announced that we intend to develop at some point in the future, but we will operate the property on a like-is a baseline at least for the next 12 months until we have identified the plan and the partnerships we want for the future,” Fenton said.
Bally’s did not directly comment on whether it would change the station’s name, but George Papanier, president of retail for Bally’s, “indicated that initially the station will retain its Tropicana name, but the company is undertaking his transition to Bally’s, he could adopt the brand image of Bally’s Las Vegas,” the Review-Journal reported.
Big changes are happening at the old Bally’s
The Bally’s name comes from the property owned by Caesars when it transitioned into becoming a Horseshoe. Caesars has largely kept its plans for the property close to the vest, but it released a few details. The sportsbook, for example, will be built in collaboration with celebrity chef Guy Fieri.
Additionally, Horseshoe will add an arcade for all ages to the property. At its core, however, the revamped property will embrace Horseshoe’s longstanding reputation as a gamer-focused brand.
“Since 1951, Horseshoe Casinos have offered the best odds, highest limits and biggest jackpots,” Caesars said in a press release.
“Launched by a gamer for gamers, Horseshoe aims to create a gaming experience tailored to the gamer. Over the years, as the brand has expanded into markets nationwide, Horseshoe has remained true to its heritage, clinging to the thrilling spirit of no-limit betting.”
Caesars did not say when it will stop using the Bally name. The property currently remains “Bally’s”, although that name has been removed from the marquee.
The full renovation is expected to be completed in the spring of 2023.
Huge change to Las Vegas Strip casino removes major hurdle