The Strip is visited by over 40 million players and guests per year, which we believe will significantly enhance Bally's customer base and player database, as well as unlock marketing opportunities to leverage the iconic Bally's brand,” George Papanier, president and chief executive officer of Bally's Corp., said in the release regarding the Tropicana deal. “Landing a preeminent spot on the Las Vegas Strip is a key step for us. On April 8, Bally's made another move in the Nevada casino market, adding to its already expansive portfolio by buying the MontBleu Resort Casino & Spa from Caesars Entertainment, part of Caesars’ effort to divest in some properties as part of its merger with Eldorado, a deal that was completed in 2020. It’s expected to offer cross marketing opportunities and bolster Bally’s customer database, according to a news release.
The purchase, expected to close in early 2022, is estimated to be valued at approximately $308 million and represents the company’s first Las Vegas asset with significant online gaming exposure. Bally’s announced Tuesday that it has agreed to purchase the Tropicana Las Vegas casino from Gaming and Leisure Properties, Inc., a publicly traded gaming focused real estate investment trust.
