Bally’s Las Vegas Project Likely To Prioritise Retail Over Casino Development

Bally’s is expected to prioritise retail, dining and entertainment components over casino development in its long-term Las Vegas Strip project, according to recent regulatory filings and comments from chairman Soo Kim.

Speaking at ICE Barcelona, Kim indicated that the company’s initial focus will be on creating a retail and entertainment district around the future MLB stadium rather than immediately building an integrated resort and casino. “To be completely frank, we’re actually more focused on developing a retail-entertainment district around the stadium to complement the traffic the stadium brings, even before we build our integrated resort and casino,” he said, adding that the project would be delivered in phases.

Bally’s most detailed construction timeline to date, submitted to Clark County in late December, outlines a four-phase development with an estimated cost of $1.19bn and potential completion by December 2030. The plan envisages a mixed-use complex with more than 500,000 square feet of retail, dining and entertainment space, alongside two hotel towers and a casino.

The development site spans 35 acres, with 26 acres allocated to Bally’s project and the remaining nine dedicated to the MLB stadium being built for the Las Vegas Athletics. The stadium is scheduled to open in spring 2028, with early construction phases focused on shared infrastructure such as a theatre, mezzanine and parking facilities. Hotel and casino construction is not expected to accelerate until at least 2028.

Kim has previously stated that Bally’s will avoid speculative development in Las Vegas and reiterated that the company intends to build the project gradually. He also acknowledged uncertainty surrounding the market, noting that Las Vegas has experienced fluctuations in tourism and gaming revenues in recent years.

While Bally’s views Las Vegas as part of its ambition to become a “world-class gaming company”, Kim suggested that the project’s long-term outcome remains uncertain and that a potential sale of the development could not be ruled out if a compelling offer emerged.

Gaming and Leisure Properties, Bally’s primary financing partner for the project, has also taken a cautious stance on further investment. Although it initially committed $175m toward shared site improvements, it has shown limited appetite for additional funding beyond select profit-generating elements.

The Las Vegas project is one of several major developments in Bally’s pipeline, alongside large-scale initiatives in Chicago and New York. With projected costs exceeding $1bn across multiple projects, analysts have indicated that Bally’s may need substantial third-party funding to advance its expansion strategy.