“But we will run the property on an as-is basis at least for the next 12 months until we have identified the plan and the partnerships that we want going forward.”īack in January, Bally's chairman Soohyung Kim said the company was open to exploring a series of options, including the demolition of the venue. “I think it's well-advertised that we intend to develop (the site) at some point in the future,” Bally’s CEO Lee Fenton said.
On the Nevada front, the company said it will close the $308 million transaction with land owner Gaming and Leisure Properties, announced in April last year, at the end of September. Nevertheless, Bally's executives said in its second-quarter earnings conference call last week it will be well into 2023 before any redevelopment takes place on the 34-acre south-Strip location, The Nevada Independent reports. Bally’s Corporation is moving forward with two major projects in two different US states, which involve the Tropicana acquisition in Las Vegas, Nevada, and Chicago's first casino project, in Illinois.
