"Bally’s Corp. agreed to purchase the Tropicana in a deal valued at $308 million from landlord Gaming & Leisure Properties Inc. Bally’s plans to redevelop the resort that sits on 35 acres at the corner of Tropicana Avenue and Las Vegas Boulevard that originally opened in 1957. The resort reopened last September with limited dining options during the pandemic. Gaming & Leisure Properties Inc. will keep the land and lease it to Bally’s for 50 years at $10.5 million in annual rent. The transaction should close early next year." - Susan Stapleton
