A's stadium landlord says it could lend up to $250 million to cover a Bally's shortfall as a key entry plaza deadline nears

What happened

The company that owns the land under the future A's ballpark on the Strip may be willing to put up to $250 million toward a funding gap at Bally's Corp., The Nevada Independent reported. Bally's is building the non-gaming pieces of the project surrounding the $2.1 billion stadium.

Brandon Moore, president of Gaming and Leisure Properties, made the offer during a tense hearing before the Las Vegas Stadium Authority. He said the company had already set aside $125 million, money left over after the Tropicana Hotel & Casino was demolished in October 2024, for the $1.9 billion entertainment district Bally's plans around the ballpark. Our earlier coverage outlined the first details of the proposal.

Who pays for what

The landlord's offer

Moore told the authority's board that Gaming and Leisure was prepared, under certain conditions, to increase its $125 million loan to $250 million. The Nevada Independent did not detail those conditions. Moore also told investors on the company's third-quarter earnings call that it had not committed additional money for the Bally's portion of the stadium project.

Parking and the central plant

According to the outlet, the A's will build the first 1,500 spaces of a planned 2,500-space parking structure on the southeast side of the site, and Bally's is expected to pay to finish it. The team will also cover its share of a central utility plant that will supply air conditioning, electricity and other infrastructure to the stadium.

Why the entry plaza timeline matters

A 12-month build

Stadium Authority Chair Steve Hill called the meeting ahead of a December 3 session on the northwest corner entry plaza. That plaza is planned as the main entrance from the Strip for ticketed fans. Hill said the goal is to make sure the stadium can open on time in 2028, The Nevada Independent reported.

Nick Tomasino, vice president of construction for Bally's, told the board the plaza will take a 12-month process, including connecting pedestrian bridges that cross Tropicana Avenue and the Strip. He said work would need to begin in January 2027 to finish comfortably in the first quarter of 2028. Problems with the plaza surfaced in August after Bally's changed its plans for its entertainment area, which will be built in phases.

Opening date

The 33,000-seat stadium is scheduled to open in April 2028. The outlet reported it remains on track to open within 16 months. More projects reshaping the valley are tracked in our development section.

Questions about Bally's finances

Warning signs

Bally's has faced financial problems in recent months, according to The Nevada Independent. The outlet noted that auditors must issue a warning when they believe a company may be unable to pay its debts over the next 12 months, and that such a warning can sometimes come before a bankruptcy filing. Bally's chief financial officer resigned shortly after that report was filed.

Bally's has said its funding problems are tied to a dispute with the city of Chicago over legalizing video slot machines in bars, taverns and other businesses, a move the company opposes.

Landlord and analyst views

Moore said Gaming and Leisure remains optimistic about Bally's as a tenant because the company owns several U.S. casinos that he believes will likely be sold so it can move forward with projects around the country. Colin Mansfield, an analyst with CBRE Credit Research, said Gaming and Leisure is in a strong position and that concerns about Bally's finances have been misunderstood, the outlet reported.

What to watch next

• The Las Vegas Stadium Authority's December 3 session on building the northwest corner entry plaza.
• Whether Gaming and Leisure Properties formally commits to raising its loan from $125 million to $250 million, and under what conditions.
• Whether plaza construction starts in January 2027, the date Bally's says is needed to finish in the first quarter of 2028.
• Any sale of Bally's casinos, which Moore said he expects will help fund the company's projects.