Bally's to Build $900M Vegas Resort, Challenges Ahead
Bally's Corporation is set to develop a resort-casino in Las Vegas, with construction slated for 2026. The project, a 'once-in-a-generation opportunity' according to Bally's Chairman Soo Kim, will be financed by the corporation itself, with no external financiers mentioned. The site of the former mob-era Tropicana casino along Las Vegas Boulevard has been chosen for this ambitious venture.
The project, valued at over $900 million, will include two towering hotels with 3,000 rooms, a 2,500 capacity entertainment venue, and retail and dining options. However, the success of the project hinges on John Fisher learning from the failures of previous top-heavy entertainment projects. Fisher, who is also involved in the proposed Athletics baseball stadium next door, is facing a $1 billion funding gap for the stadium, with only $380 million in approved tax funds and a planned sale of his MLS team for $600 million.
The Athletics have already applied for over $900 million in building permits, with $523 million requested last week. Despite a ground-breaking event in June, the stadium's completion is not guaranteed. Meanwhile, Las Vegas visitor numbers have dropped by 6.5% since 2024, putting resorts in a tough position for 2025.
Bally's Corporation's resort-casino project, with its significant investment and ambitious plans, aims to redefine the heart of the Las Vegas Strip. However, its success depends on learning from past mistakes and navigating the financial challenges faced by both the resort and the proposed stadium next door.
Read also:
- Xiaomi's YU7 SUV Challenges Tesla's Dominance with Impressive Pre-orders and Features
- Activist Wangchuk Sounds Alarm on Ladakh's Climate Crisis and Silenced Voices
- Potential Consequences of Dismantling FEMA Vary Across States
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
