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Looking To The Future Now That The Tropicana Las Vegas Is Closed

Written By Marc Meltzer on April 3, 2024
Escalator Outside Tropicana Las Vegas Hotel-Casino

The Tropicana is closed and the iconic Vegas Strip casino won’t be forgotten. Visitors will be able to see some remains of the casino moving forward.

Some super fans can even take a little bit of the Tropicana home.

Current plans for the future of the land where the Tropicana still stands are penciled in but questions remain as there isn’t a solid timeline for the property moving forward. There’s still a lot of work to do.

There are still questions about the future of Bally’s Corp. (NYSE: BALY), owner of Tropicana operations as well as the Oakland A’s relocation to Las Vegas, despite receiving approval from Major League Baseball last year.

Demolishing the Tropicana Las Vegas casino

Bally’s has been fairly quiet about plans for the land where Tropicana still stands after the casino closes. Before anything is built on the 35-acre plot of land on the Vegas Strip, the land must be prepped for construction.

According to the Las Vegas Review-Journal, Bally’s Corp. chairman Soo Kim says Tropicana will be demolished in October1. He told the newspaper that this date is still “subject to permitting and further changes as I don’t know how firm the dates would be at this stage” so this rough timeframe could move.

The property is larger than just the tall hotel towers and there’s plenty of work to do. Demolition equipment is already on site.

Bally’s has not announced if the tall towers of the Tropicana will be quietly taken down or if there will be a grand Las Vegas casino implosion. Some previous Las Vegas implosions only take down one of the structures as part of the goodbye ceremony.

Plans for the future of the Tropicana could become more clear after the property is demolished and the land is prepared for construction. Last year the Oakland A’s hired Mortenson-McCarthy to oversee the construction of the new Las Vegas baseball stadium.

This group is part of the team that helped build Allegiant Stadium.

Remembering Tropicana’s past

The casino and hotel may soon be gone from the Las Vegas skyline but memories of the Tropicana will continue.

Now that the casino is closed, the Neon Museum in downtown Las Vegas is lighting up a new Tropicana neon sign from the property’s porte-cochere. This iconic sign was installed as part of a renovation in 1978.

Visitors can still see a Tropicana sign at the “Brilliant!”2 display at the Neon Museum. The show features a sign from the Tropicana among many others.

Bally’s is also working with UNLV and the Showgirl Museum to preserve more artifacts from Tropicana. If the Vegas Strip stadium for the A’s is built it could include Tropicana artifacts3.

Fans of the Tropicana can also buy items from the Tropicana4 at the current liquidation sale. Unfortunately, casino items aren’t available at this sale. Items available in the liquidation include:

  • Hotel Furniture: Beds, desks, TVs, etc.
  • Restaurant Equipment and Merchandise: Signs, prep stations, refrigeration items, etc.
  • Banquet Items: Chairs, tables, podiums, etc.

Prices start at $1. Most items are intended for local buyers to pick up. Check with the liquidation company for more information.

Redeeming Tropicana chips and vouchers

Not everyone had time to make one last visit to say goodbye to Tropicana and redeem winnings from previous trips. There are a couple of options for those who would rather have cash in hand rather than chips or slot machine vouchers.

Chips

Anyone with Tropicana casino chips can cash them in at the casino next door for the time being. The main cashier cage at OYO Las Vegas will exchange Tropicana chips for cash until July 31, 2024.

Bally’s hasn’t announced how chip holders will be able to cash in their Tropicana chips after this date.

Slot machine vouchers

Redeeming slot machine vouchers from Tropicana will be easier. Guests don’t have to visit Las Vegas to receive cash for vouchers.

Anyone with a voucher from electronic table games or video poker and slot machines can simply mail them to the casino operator. The catch is that the mail must be postmarked before the expiration date on the voucher.

Send the voucher to 3801 Las Vegas Blvd South, Las Vegas, NV 89109. The voucher should include Tropicana Rewards Club account information or a copy of personal ID.

Plans for Tropicana’s Las Vegas Strip land are still up in the air

The current plan for the land once the Tropicana is demolished and removed is to build a baseball stadium for the A’s when the team relocates to Las Vegas from Oakland. The stadium is set to occupy nine acres of land.

A hotel, casino, and retail plaza will fill out the rest of the 35 acres that were once occupied by the Tropicana.

Construction is currently slated to begin in 2025. The baseball stadium should be completed by the first pitch of the 2028 MLB season. This is based on the A’s firming their move to Las Vegas.

Earlier this year, the A’s released renderings of the proposed Las Vegas baseball stadium.

Landowner, Gaming and Leisure Properties (GLPI), is along for the ride and working with current operations owner Bally’s and the A’s. However, Bally’s is in the middle of some financial turmoil.

Bally’s financial situation

Bally’s is evaluating a proposal to go private5 by selling to Standard General. This is serious enough for the company to hire legal and financial representation6.

Bally’s recently had its credit rating reduced by a financial firm for the third time. This might not have an impact on building the stadium7 but it could change whatever Bally’s is planning.

An asset manager is recommending passing on the offer8 to go private and restructuring. The company recommends Bally’s should sell “non-core assets” to lower debt. Under the recommendation, Bally’s would stop “risky” construction projects.

Bally’s is currently planning new casinos in Chicago, New York City, and a replacement for Tropicana in Las Vegas. It’s possible one or more of these could be considered risky.

There’s plenty of work to do before there’s an entirely clear plan for building a stadium, casino, hotel, retail plaza, and more where the Tropicana once stood.

Sources

  1. Tentative Tropicana demolition date set ↩︎
  2. Brilliant! ↩︎
  3. Neon Museum and Oakland Athletics eye collaboration ↩︎
  4. Tropicana Las Vegas liquidation sale ↩︎
  5. Bally’s Forms Special Committee To Evaluate Preliminary, Non-Binding Acquisition Proposal By Standard General ↩︎
  6. Special Committee of Bally’s Retains Financial and Legal Advisors in Connection With Standard General’s Proposal ↩︎
  7. Bally’s credit downgrade won’t affect A’s stadium project, official says ↩︎
  8. K&F urges Bally’s to reject Standard General’s ‘woefully undervalued’ buyout offer ↩︎
Photo by AP Photo/John Locher
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Marc Meltzer

Marc grew up on the mean streets of the South Bronx. He's the rare combination of Yankees and Jets fan which explains his often contrarian point of view. Marc is a freelance writer and social media consultant. Writing about steak, booze, gambling and Las Vegas is a tough job but somebody has to do it.

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