Oakland A's Stadium Construction Underway in Las Vegas

Construction has begun on the $1.75 billion Oakland A's new stadium in Las Vegas, with visible progress on the foundational structures at the former Tropicana Resort site. The 33,000-seat ballpark is expected to be completed in 2023. Several stocks have ties to the project, including those related to construction, real estate, and hospitality.

Construction has begun on the $1.75 billion Oakland Athletics new stadium in Las Vegas, with significant progress visible at the former Tropicana Resort site. The 33,000-seat ballpark is expected to be completed by 2028. Nevada and Clark County have committed up to $380 million in public funds, while the overall stadium costs have reportedly increased to over $2 billion, with loans from major financial institutions like U.S. Bank (USB) and Goldman Sachs (GS) covering part of the costs [1].

Several publicly traded companies are playing crucial roles in both the development and financing of the project. Bally's Corporation (NYSE: BALY) and Gaming and Leisure Properties (NASDAQ: GLPI) are key players in the land arrangement. Bally's, which operates the Tropicana Las Vegas, and Gaming and Leisure Properties (NASDAQ: GLPI), which owns the land, agreed to provide nine acres at the prime Las Vegas Boulevard and Tropicana Avenue location for the stadium [1]. Aramark (NYSE: ARMK) secured a 20-year contract to provide food and beverage services and committed at least $175 million, including a $100 million equity stake in the team and $75 million in capital expenditures for the stadium [1].

The Athletics organization has also attracted new investors. Former Los Angeles Dodgers pitcher Chan Ho Park and South Korean boy band member Suga have acquired a minority stake in the franchise, contributing to a $70 million fund to support the relocation and stadium construction [2]. The ballpark is expected to feature a climate-controlled environment with a retractable roof, custom under-seat cooling, and a distinctive glass outfield wall providing views of the Las Vegas Strip [1].

References:
[1] https://seekingalpha.com/news/4483086-these-stocks-have-ties-to-the-new-mlb-baseball-stadium-on-the-las-vegas-strip
[2] https://www.yardbarker.com/mlb/articles/chan_ho_park_purchases_minority_stake_of_athletics/s1_17075_42549489