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Tag: Vegas baseball stadium

  • Vegas Updates: Hard Rock! Baseball Stadium! F1! • This Week in Gambling

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    We’re coming to you from the Strip with several Las Vegas updates! F1 preparations are well underway, we’re going to show you some of that… then walk down to the construction site of the new Hard Rock Las Vegas to show you what they put up. Then we’re going to visit the new Las Vegas baseball stadium to see how that construction project is coming along! And it’s all This Week in Gambling!

    The 2025 Las Vegas Grand Prix race course is almost completed, as the installation of lighting, barriers, and grandstands continues all along the racetrack. Setup     has taken less time this year as two crews have been working on the 3.8 mile course, which winds down Koval, Sands, and Harmon before shooting past the Sphere and down the strip at over 200 mph!

    Race weekend is November 20th through the 22nd, with roads in the area closing at 1 p.m. each day. Once the race is over, tear down should be done before Christmas, and plans are for the Las Vegas F1 to continue for at least the next 2 years.

    The next of our Las Vegas updates takes us to where the city’s new Major League Baseball stadium is under construction where the Tropicana once stood. But so far, there’s not a whole lot to see… unless you just like dirt.  Costs continue to rise with the estimated price of the venue growing by $250 million recently, bringing the grand total to $1.75 billion.

    This, along with reports that the team is $1 billion short of the needed funding, has raised some serious doubts that the ballpark will actually be completed. Plus, residents in the area are not thrilled with the venue’s Strip location, or that 350 million of their tax dollars that are being dumped into construction. However, at this time, the stadium is still on schedule to open in January of 2028.

    Finally this week, the last of our Vegas updates takes us to the new Hard Rock, which is still a long way from opening. But their giant guitar-shaped tower is now beginning to take shape in the middle of the Strip, easily visible, poking its head just above the privacy fences. Since construction began, Hard Rock has updated their plans for the property, expanding the pool complex by 50%, the spa area by 300%, and their 700 foot guitar hotel tower will now have 675 rooms, up from the original 600 that were planned.

    These announcements come as Las Vegas tourism numbers have dropped over the first half of this year. But Hard Rock says they believe in the long-term strength of the city. The resort was originally scheduled to open in early 2027, a number that has since been revised to the last quarter of that year. But with a project this big, we shouldn’t be surprised if it is delayed even further. 

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  • Las Vegas MLB Stadium in Jeopardy • This Week in Gambling

    Las Vegas MLB Stadium in Jeopardy • This Week in Gambling

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    The new Las Vegas MLB Stadium may be in jeopardy due to concerns over investors and financing. Plus, we have an update on what’s being said about the Tropicana Las Vegas implosion date this fall.

    We know the Tropicana is coming down, we just don’t know when, exactly. Although, there are some pretty good guesses out there… and we’ll discuss those in just a moment. But first, that new Las Vegas MLB Stadium they plan to build where the Tropicana is standing right now? There’s no money to pay for it! Like, none… at all.

    The $1.5 billion cost was supposed to be paid for through debt financing, investors, and taxpayer money… except there is no financing, there are no investors… so what about them taxpayers? Tell me why the people of Nevada have to pay for the billionaire owner of the team to have a new stadium in their community, so that he can continue to profit off of them? Maybe for the same reason that they couldn’t fix the roads in Las Vegas until F1 came to town?

    There was even even a legal challenge to this whole taxpayer money thing recently, asking that the issue be put to a vote because the people of Nevada foolishly thought that this cash could be used for something more beneficial… like say, education? However, the State Supreme Court shot that shit down right quick, because they don’t want people to vote for it… they just want people to pay for it.

    But even with the $350 million in taxpayer money, they’re still going to be short more than a billion dollars to build the Las Vegas MLB Stadium, which begs the question, where do we go from here? Look, they will probably find the investors that they want… and they’ll probably get the financing they need… but even if they don’t, well… this wouldn’t be the first project in the history of Las Vegas to fail.

    However, there are two things we know for an absolute certainty: The first is that the billionaire owner of the baseball team is not going to risk one damn dime of his own money on this stadium project… The second is that the Tropicana is coming down in early October… we just don’t know an exact date yet, although there are a lot of people on YouTube who are guessing, and some even claim to have “inside information”.

    Those guesses ranged from October 3rd to October 7th, which is funny because just a couple of weeks ago I came right here on this program and predicted October 5th… so you might say I was…
    in the ‘ballpark’? LOL! The truth is, no one knows an exact date just yet… not until Bally’s makes the announcement. And hell, at this point Bally’s might not even know an exact date! However, when it comes to the new Las Vegas MLB Stadium, we have our own sources of inside information.

    You see, our best friends sisters boyfriends brothers girlfriend knows this kid who heard from this guy who works for the demolition company… and he saw Ferris pass out at 31 Flavors last night.
    So, it must be pretty serious. (Bueller?)

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  • Vegas Baseball Stadium Financing Issues • This Week in Gambling

    Vegas Baseball Stadium Financing Issues • This Week in Gambling

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    The MLB’s Oakland Athletics are supposed to be moving into a brand new Las Vegas baseball stadium in 2028. And while delays are not uncommon when it comes to construction on this scale, financial delays can lead to the complete failure of a project. And while there’s still a long way to go before that happens in this situation, that is the path we’re on.

    The Athletics finally unveiled details about the financing for the new Vegas baseball stadium during a meeting several weeks ago. Those details showed that they expect $350 million to be provided by Nevada tax payers, who didn’t even get a say in the plans. In fact, the Nevada Supreme Court said they couldn’t even vote for it. Does that seem fair? Never mind, this is politics.

    Then there is the issue of another $300 million which will supposedly be raised through debt financing, even though no one is beating down the door to take on that responsibility the team cannot secure a lender. Even if they could, that still leaves a healthy chunk of $850 million on the table… and if you think the team or their owner will pick up the tab, think again.

    The owner of the team is John Fisher, and he’s worth about $2 to $3 billion, depending on which website you ask. But why would a billionaire pay out of his own pocket for his own team to get his own stadium when he can get other people to risk their cash? The short answer is he wouldn’t… and he has no plans to do so. Instead, the $850 million will be gathered from investors in and around Las Vegas. Problem solved? Not quite.

    There are no investors. None. It seems that people looking for smart investments are not lining up for the Vegas baseball stadium project. Why would anyone want to put good money at risk based on speculative future valuation of this team? Meanwhile, any reports of serious, interested investors are unfounded.

    Lastly, the team has yet to secure any actual loans, even while they float claims that there are many interested financial institutions. So why all the smoke and mirrors? And is there a real danger that the Las Vegas baseball stadium doesn’t get built? Probably not. However, given the history of failed projects in Sin City over the years, the odds of it failing are certainly not zero.

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  • Bally’s Buyout Impact on Vegas Baseball Stadium • This Week in Gambling

    Bally’s Buyout Impact on Vegas Baseball Stadium • This Week in Gambling

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    Bally Corporation, who purchased the Tropicana and agreed to provide land for the new Las Vegas baseball stadium, has agreed to a $4.6 billion buyout offer from their largest shareholder, Standard General. This massive move has some people asking if the change in leadership will have an impact on the deal already in place. A fair question.

    First, the buyout deal does include the recently closed Tropicana Las Vegas, which officially shut its doors on April 2nd. And while any future plans for a new resort remain clouded, the plans are in place to demolish the existing structures in an implosion, probably in early October.

    Soon after the Standard General deal was made public, questions were raised about the new 33,000-seat Vegas baseball stadium, planned for the site, which is expected to break ground by April next year. Fortunately, a representative of the baseball team informed the Las Vegas Stadium Authority that the they were still in “good shape” with the financing of the ballpark.

    Still, there are some rumblings and concerns. While the comment was reassuring it provided no specifics on how the franchise will cover its anticipated $1.2 billion share of the construction costs. Additionally, Bally’s executives have not commented about the deal or the Vegas baseball stadium beyond the initial buyout announcement.

    Should the public be concerned? Probably not. Will they be concerned? Probably so. That’s what people do. But here’s one important piece of the puzzle which provides a clue: Bally’s Chairman is Soo Kim, who is also the chairman of Standard General. And Kim said the buyout would actually help Bally’s with the property development, as well as the ballpark project. That said, this doesn’t look like an issue for the stadium.

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