The casino operator will be compensated by Gaming and Leisure as part of the GLPI deal with MLB. The stock price surged more than 20%, from $9.32 on Wednesday to $11.23 on Friday.īally’s, that currently has a lease on Tropicana, has several options, as it could construct a new casino resort adjacent to the new stadium or it could sell its lease to another company. Prior to the Thursday’s vote, ten high-ranking executives at Bally’s, including CEO Robeson Reeves and George Papanier, bought 81,500 BALY shares for $760,000. The vote was therefore considered a formality. It was expected that the vote will be unanimous as the commissioner normally doesn’t schedule votes on important matters unless the outcome is already certain.
The last-ditch efforts by Oakland Major Sheng Tao, who sent gift boxes to 15 team owners pleading them to vote No and to have the A’s remain in Oakland, were therefore unfruitful. A two-thirds vote of 30 teams was necessary for the plan to go ahead, but all 30 team owners said yes. On Thursday, the MLB owners confirmed with unanimous vote that the Oakland Athletics baseball team will be moving to Las Vegas. Bally’s insiders, including the CEO, bought BALY stocks ahead of the vote and saw the price rise more than 20%.
The Oakland Athletics baseball team will be moving from Oakland to Las Vegas, the team owners’ vote confirmed.
