The resort reopened last September with limited dining options during the pandemic. plans to keep the land and lease it to Bally’s for 50 years at $10.5 million in annual rent, while Bally’s agreed to spend $150 million to operate the Tropicana.īally’s Corp., which is not associated with the resort on the Strip, plans to redevelop the resort that sits on 35 acres at the corner of Tropicana Avenue and Las Vegas Boulevard that originally opened in 1957. agreed to purchase the Tropicana in a deal valued at $308 million from landlord Gaming & Leisure Properties Inc., according to the Las Vegas Review-Journal. This time, Rhode Island-based Bally’s Corp. ![]() Another big real estate deal changes the landscape of the Las Vegas Strip.
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