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The Street
The Street
Business
Daniel Kline

Oakland A's in Talks for Las Vegas Strip Stadium Near Iconic Casino

For decades every professional sports league treated gambling, and by extension Las Vegas, as some sort of demon that might bring their sport down. Broadcasters never talked about things like point spreads or favorites ignoring what was a multi-billion dollar industry that just happened to be mostly illegal.

Now, since the Supreme Court pushed the question of legalizing sports betting to the states, every major sports league in the United States has done a complete 180 on the subject. Now, telecasts regularly address gambling topics and the leagues have embraced all the money legalized gambling has been willing to throw at them.

Las Vegas has been a huge beneficiary of this change. In addition to sports betting being normalized, the change in laws --  about half of U.S. states have legalized sports betting and more are expected to do so soon -- the Supreme Court decision made Las Vegas an attractive destination for professional sports teams and major sporting events.

Over the past few years, Las Vegas welcomed the National Hockey League's expansion Golden Knights to an arena directly on the Las Vegas Strip nestled among many Caesars Entertainment (CZR) and MGM Resorts International (MGM) properties. That was followed by the former Oakland Raiders moving to a new stadium built just off the strip.

In addition, Las Vegas hosted the NFL Draft, will host a Formula 1 race, and has become the hot city for franchises in the National Basketball Association (NBA) and Major League Baseball (MLB) looking to relocate.

And while no specific NBA team has targeted Sin City, MLB's Oakland Athletics have been in negotiations with multiple sites on and adjacent to the Strip. Those discussions have seemed to inevitably lead to the team moving (even while Oakland continues its efforts to keep the team) but where the A's would land has been a mystery.

Now, one potential site -- a major Las Vegas Strip property badly in need of a new direction -- may have emerged as a favorite to land the team.

Image source: Joaquin Gomez Sastre/NurPhoto via Getty Images

Classic Las Vegas Property Gets a Revamp

Circus Circus was a key player in the 1990s movement to make Las Vegas more family-friendly. It offered amusement park rides and circus acts to entertain kids while it also had the casino games that attract adults to Sin City.

Those efforts to make Las Vegas more like a theme park with gambling failed and the rest of Las Vegas -- led by Caesars and MGM -- dropped the family-friendly angle. That has left Circus Circus a bit adrift. The casino still has the circus theme but it's one that feels dated and out of touch with modern Las Vegas.

Now Circus Circus owner Phil Ruffin, who also owns Treasure Island, has big plans to revamp his property. That includes a $30 million renovation that will lean into the idea of being an all-ages property. The resort casino will be painted to restore the original bright "circus" feel and the signature 'big top" will be renovated as well. In addition, the resort's pool was also totally revamped, doubling its capacity and giving it a "new resort" look.

Now, Ruffin has been talking to the A's about building a stadium on a site that's adjacent to Circus Circus, the Las Vegas Review-Journal reported.

Circus Circus Owner Talks to A's

The A's have talked with the owners of a number of sites both on and off the Strip. Reportedly, the team wants to build a 30,000-seat stadium (intimate by Major League standards) that would likely have a retractable roof. The team has not been shy about sharing its interest in moving to Las Vegas even as it still negotiates with Oakland.

In addition to owning Circus Circus, Ruffin owns the 37-acre Las Vegas Festival Grounds next to that location. Now, the casino owner is heading to Oakland to talk with the team about that site, according to the paper.

"A’s President Dave Kaval noted the team’s interest in the festival grounds early in the search process in Las Vegas, but the focus shifted away from that location as the team’s market research progressed," the Review-Journal reported.

Now, that site, located on the southwest corner of Las Vegas Boulevard and Sahara Ave., has reemerged as a contender. Bringing the A's to the Circus Circus property would help that brand's attempt to brand itself as a family-friendly alternative to the rest of the Strip.

The A's are reportedly still considering multiple sites in Las Vegas while not fully closing the door on staying in Oakland.  

 

  

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