Bally’s Corporation, a local casino operator, gathered the employees of Tropicana Las Vegas and informed them about a temporary closing down of the casino resort. The reason offered was that they were awaiting a grant amounting to $395 million in the form of public financing for a new stadium to be built for the Oakland Athletics MLB team.
As a part of the understanding, Bally’s Corporation will be using the funds to bring down the Tropicana structure and, in its place, construct a casino hotel having 1,500 rooms on the same premises. The new structure will have the Bally moniker. There will also be a thirty-five thousand seater stadium; The deal has been struck with Gaming and Leisure Properties from whom the land has been leased. GLPI is also putting in the amount of $175 million in exchange for a rent increase. Currently, for remodeling the structure, the company needs approval from Nevada, as well as Clark County and Major League Baseball.
Where the employees are concerned, the Culinary secretary and treasurer, Ted Pappageroge, sent out a message stating the fact that the Culinary Union members will be covering for the employees and that they will have the option of attaining free job training and their benefits will remain as they are. The union will have their back in every situation. The employees were also notified that Culinary had inked a deal with the Oakland A’s, which will safeguard their rights.
The initial Tropicana was established in 1957 by Ben Jaffe, who owned the property. To take over the property, Bally’s made a payment of $148 million, through which he also obtained the operating license for running the casino. Before Bally’s took over, the place went by the name of Tiffany of the Strip.