“A new CFO and will likely warrant questions as to what other changes may be in the works as Bally’s continues to evolve.”īally’s, which owns and manages 15 casinos in 10 states including Bally’s Lake Tahoe, carries more than $3.3 billion in long-term debt on its books. “For a company with numerous moving pieces, we think it’s important investors perceive a steady hand at the wheel,” Wells Fargo Financial gaming analyst Daniel Politzer wrote in a research note. “The Culinary Union will negotiate to ensure workers’ rights under the contract are strictly followed so that workers have additional compensation, health care coverage, and pension benefits while the property is closed for development,” Culinary Secretary-Treasurer Ted Pappageorge said in the statement.īally’s Chairman Soo Kim said Monday it was likely the Tropicana would be demolished at some point and replaced with an all-new resort. The union said in a statement the workers are protected under the contract. On Tuesday, Culinary Workers Local 226, which represents hundreds of non-gaming employees at the resort, said the staff was told the property “will be closing temporarily in 18-24 months for development, should the public financing for a new A’s stadium occur.” Added into the mix are the company’s plans for Tropicana Las Vegas, where Bally’s has committed 9 acres of the 34-acre site on the south Strip for a $1.5 billion stadium that would allow the Oakland A’s to relocate to Las Vegas.

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