The imminent implosion of the Tropicana’s hotel towers in early October is sparking excitement as it paves the way for the Oakland Athletics’ highly anticipated Las Vegas ballpark. The collaboration between Tropicana Las Vegas owner Bally’s Corp. and the A’s is set to culminate in a grand celebratory event on October 8th, featuring a spectacular drone and fireworks show from Fireworks by Grucci.
According to Bally’s Corp, the implosion of the Tropicana is scheduled for approximately 2:30 a.m. on October 9th, pending approval from Clark County for a permit application from Bally’s. The permit approval process can happen up to one week before the scheduled implosion, ensuring that all necessary preparations are in place for the momentous event.
The decision to demolish the iconic Rat Pack-era resort is a strategic move to clear the site for construction on the A’s stadium, slated to begin in April. The ambitious $1.5 billion ballpark project is estimated to take around three years to complete, with plans for the A’s to commence playing in Las Vegas starting from the 2028 MLB season.
Before ground can be broken on the stadium construction, the A’s must finalize various agreements with the Las Vegas Stadium Authority and Clark County. While the community benefits agreement has already been approved, the development, lease, and nonrelocation agreements are currently pending approval.
Stadium authority chairman Steve Hill is optimistic about the negotiation process, expressing confidence that the outstanding agreements will be resolved in the coming months. The stadium authority’s upcoming meeting on October 17 will showcase updated versions of the three pending documents, marking significant progress towards finalizing the agreements.
In addition, the A’s are expected to present a detailed stadium financing plan at the October meeting, a crucial step before accessing up to $380 million in public funds to support construction. The public funding, which was approved last year, includes $180 million in state tax credits, $120 million in bonds from Clark County, and a $25 million infrastructure credit for the A’s.
A’s executive Sandy Dean has outlined the team’s financing strategy, which involves utilizing $350 million of public funds, securing $300 million in debt financing, and leveraging $850 million in equity from team owner John Fisher’s family. The A’s are also exploring opportunities for local investors to participate in the project, potentially reducing the equity requirement from the Fisher family.
As discussions progress, the county is moving towards finalizing a development agreement with the A’s, while decisions regarding issuing bonds for the project remain on the horizon. With the A’s committed to providing a majority of the stadium funding, the timing of bond issuance is still under consideration, reflecting the collaborative efforts towards making the Las Vegas ballpark a reality.