Another Iconic Las Vegas Strip Casino Likely to Be Demolished
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Caesars Entertainment is revamping its Caesar Bally's casino. It will be rebranded and remodeled taking on the company's Horsehoe brand. Caesar's will probably demolish another classic casino with roots in Vegas' seedier past. The Mirage was sold to Hard Rock International so it could be demolished and turned into a guitar hotel. The company has not had a presence in Las Vegas.
Bally's bought the Tropicana from GLPI for $150 million. Bally will lease the land underlying the casino for 10.5 million per year. Chairman Soohyung Kim said Baly's will probably rename the hotel-casino and redevelop it. The Tropics is visited by 40 million people per years. The chairman called knocking down the property and building something entirely new a possible way to “maximize value”
Mirage is being demolished. Hard Rock wants to turn Tropicana into a variation of its Florida Guitar Hotel. Tropicsion was built in 1957 and has been renovated a number of times. Bally's has a casino license in Nevada.
