Tropicana demolition progresses as Bally's executive receives licensing approval

The demolition of Las Vegas' Tropicana Resort is progressing as planned, according to Bally’s Corp. executive Arik Knowles. During a Wednesday meeting with the Nevada Gaming Control Board, Knowles, who will oversee the October demolition and the subsequent development of a $1.5 billion resort and baseball stadium, provided an update on the project’s status.

Knowles, a 28-year veteran of the gaming industry with prior experience at MGM properties, The Venetian, and Fontainebleau, was recommended for licensing by the board following a unanimous vote. His final approval will be determined by the Nevada Gaming Commission on August 22.

Since Bally's acquisition of the Tropicana from Penn Entertainment in 2022, Knowles' role has evolved significantly. “Right now, the Tropicana is down to a handful of team members, including myself,” Knowles informed the board, citing the remaining staff as primarily focused on human resources, finance, and facilities management. He also noted that preparation for the October implosion, which doesn’t have a firm date, is about 80 percent complete.

“The two towers have been gutted,” Knowles said. “We are planning an implosion of those towers in early October, and the site is scheduled to be clear in early 2025, months ahead of our April 2025 requirement.”

The Tropicana site will eventually host a 33,000-seat stadium, where the Oakland Athletics are expected to begin their 2028 Major League Baseball season. However, Knowles mentioned that a groundbreaking date for the stadium has not yet been set.

In addition to the demolition updates, Knowles highlighted efforts to preserve the Tropicana’s historic elements. Items of historical significance have been donated to the University of Nevada, Las Vegas (UNLV) archives, the Mob Museum, and the Neon Museum.

Among these preserved artifacts is the iconic stained-glass canopy ceiling, originally installed for $1 million in 1973. “That has been painstakingly removed and is being stored for future use on the project,” Knowles said.

Attorney Dan Reaser, representing Knowles, also provided an update on Bally’s announced merger with Standard General LP, a New York-based hedge fund led by Bally’s board chairman Soo Kim.

The merger, which requires approval from multiple gaming regulatory bodies, is not expected to close until next year. Nevada regulators, already familiar with Kim, have previously licensed him in his capacity as Bally’s board chairman.