Delaware Business Now
Bally's completes sale of Tropicana Las Vegas
Bally's Corporation completed the acquisition of the Tropicana Las Vegas. GLPI and PENN completed a transaction of non-land assets of Tropiana for $148 million. Bally’s will lease the land underlying the property for 50 years at an annual rent figure of $10.5 million, similar to the lease deal at its Dover property. The Tropicoana is located on a 35-acre parcel on the Las Las Strip. It includes 1,470 guest rooms, 50,000 square feet of casino space, a 1.200-seat performance theater and 100,00 square ft of convention and meeting space. Caesars is expected to rebrand the current Bly's on The Strip to its Horse Shoe brand.