Bally's New Vegas Plan Looks Very Different With No Casino, No Hotel

^{The new rendering for Bally’s Las Vegas doesn’t include a casino or hotel. (Rendering: Marnell Architecture)}

When we last checked on Bally's Las Vegas in June, there was a whole lot of nothing going on with the casino, hotel, and retail complex to be built around the A's Stadium, where the Tropicana once stood once stood. While construction on the stadium continues, Bally's still hasn't started work on any other part of the project for the 35-acre parcel of land on the Vegas Strip.

Not only has work not started on any part of the Bally's Las Vegas complex, but the plans have been scaled back significantly.

If pictures can say a thousand words, what does the new rendering of Bally's say when compared with the 2025 version released by the company?

The updated rendering from Bally's no longer includes a hotel or casino, but it still includes some retail and additional above-ground parking spaces. This suggests the company has scaled back its massive initial plan for an integrated resort.

With no casino in the works, Bally’s will likely have another pop-up casinoasino next to the A’s Stadium in 2028 to keep the gaming license for the land.

Bally’s New Plans For The Strip

Bally's has always said its Las Vegas project would be built in phases. The first phase included a casino and retail. Hotel towers would be added in subsequent phases.

Based on the available rendering, the initial phased plan has been scaled way back compared to what Bally's plans to build on the land on the Strip owned by Gaming and Leisure Properties (GLPI).

Clark County approved some (but not all) of Bally's plans for Las Vegas. The hotel towers have not received approval from the Federal Aviation Administration (FAA), so they have been removed from the plans.

During a Las Vegas Stadium Authority meeting in August, Bally's Senior VP of Development and Construction Nick Tomasino said the company has secured financing and is ready to get started. However, there's a new plan with just two phases and no hotel or casino:

• Phase one: a 1,500-space parking garage and a central utility plant.
• Phase two: a plaza with retail, entertainment, restaurants, and a 2,500-seat theater, with an underground parking garage and land used for a temporary parking lot.

Bally's says it plans to add a casino after the first two phases of construction are completed, but there’s no information about when the FAA might approve the hotel towers. Tropicana's two hotel towers were 21 and 23 stories. The first Bally's plan included three hotel towers.

Bally's original three-phase plan for its Las Vegas Strip project included three hotel towers, seen in this site plan.(Image: courtesy of Marnell Architecture)

Bally's has not said when construction on anything related to the A's Stadium will begin or end, with the stadium still under construction and an opening date planned for 2028.

How Did Bally’s Get Here?

Bally's Corp. has been in the news a lot over the past couple of years beyond Las Vegas. The company started construction on a permanent Bally's Chicago in 2024. There’s currently a temporary casino without a hotel in the historic Medinah Temple.

Despite slow construction, delays, and numerous financial concerns, the company says it's on target to open the $1.7 billion casino in spring 2027.

Last year, Bally's was approved to also build a casino in the Bronx, but construction is yet to start on the New York City casino. During its most recent earnings report, Bally's said the New York City casino would cost $4 billion and is expected to open by 2030.

One report calls this casino a “Bronx-sized headache.” As someone who grew up in the Bronx, I can confirm that’s not a good thing.

Bally’s financial concerns are real, and the company recently addressed the issue, saying it is "pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale, and debt financings."

In other words, Bally's needs money to finish its Chicago casino, and it will need even more to start work in Las Vegas and New York City.

What’s Next For Bally’s Las Vegas?

For now, there's not much to do but wait and see what Bally's decides.

Bally’s still owns the right to build a casino, hotel, and retail complex at the corner of Las Vegas Blvd. and Tropicana Ave. The Las Vegas Review-Journal reports another company could step in for Bally’s, but a spokesperson for the company told local TV station KTNV that the rumor has “no merit.”

GLPI has been neutral publicly about Bally’s building on the former site of the Tropicana. That may not last much longer if the company's value is truly being suppressed by more than 50% due to its alignment with Bally’s.

Boyd Gaming has been floated as a possible buyer if Bally’s sells. During its quarterly earnings calls, the company often says it’s open to ideas and looking for value. Even though Boyd owns the land underneath all of its Las Vegas casinos (except Suncoast),  it operates four casinos around the country where GLPI owns the land.

Penn Entertainment, owner of M Resort, leases more land from GLPI than any other casino operator. Coincidentally, the company sold Tropicana to Bally's and during its most recent earnings call said it's open to returning to the Vegas Strip.

GLPI can stick with these and other companies in its network or find another developer to get the job done. Ultimately, the real estate company just wants a healthy tenant that can pay rent when it's due.

The best bet is to sit back and relax while the corporations figure everything out. Having said that, it would be surprising if there aren't some retail outlets open by the time the A's throw out the first pitch in 2028.