Recent events in the Bay Area, however, may keep the team in Oakland, where the A’s want to build a $1 billion waterfront ballpark to replace RingCentral Coliseum. (Rendering courtesy Oakland A's and Major League Baseball) A rendering of the Oakland A's proposed waterfront stadium at the Howard Terminal in Oakland, California. VICI executives have declined comment about the land, which is one of two locations the A’s are considering in the Strip corridor. The VICI site sits along Koval Lane and fronts a portion of the 3.8-mile, 14-turn racecourse planned by Formula One for the Las Vegas Grand Prix in November 2023. VICI owns roughly 660 acres across the Strip, much of which covers 12 resorts and entertainment complexes, including The Venetian, MGM Grand and Caesars Palace.Ī 27-acre parcel behind Bally’s Las Vegas, Paris Las Vegas and Planet Hollywood that is owned by VICI has reportedly been eyed by the Oakland A’s as a potential site for a $1 billion Major League Baseball Stadium should the team relocate from the Bay Area. “For every Fenway Park (home of the Boston Red Sox) or Wrigley Field (Chicago Cubs) or Anfield (Liverpool FC) or Old Trafford (Manchester United), there's a stadium that had proved to have about 20 years of useful life,” he added. “I do think we are mindful of the fact of obsolescence risk in stadiums,” Pitoniak said. VICI CEO Edward Pitoniak told an analyst that investing in a stadium development was an intriguing idea for the REIT, which launched in 2017 by taking ownership of 20 Caesars Entertainment hotel-casinos as part of the casino operator’s bankruptcy reorganization.īut he also expressed caution, saying stadiums often need renovations after a few decades. “There are parts of sports that I think are quite interesting that we're studying and parts of fitness that we're continuing to study.” Best of all, as an Wealth Tracker user, personal service is only a click away - whenever you have questions or need assistance, Wealth Tracker can connect you to a Financial Advisor in your area.“We love the indoor water park business, the theme park business, (and) family entertainment centers,” VICI President John Payne said on the company’s second-quarter earnings conference call last week. Additionally, the application can help you better understand certain investments through access to research reports from our nationally recognized equity research partner. When you register for Wealth Tracker, you can complete a risk profile and see if your holdings are aligned with your financial goals, tolerance for risk, and time horizon.
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