The Oakland Athletics are traveling to Las Vegas, likely to bring more advantages to local gambling venues than those on the Strip. According to John DeCree, an analyst at CBRE, Red Rock Resorts (NASDAQ: RRR) will be the biggest beneficiary of the A’s relocation to the City of Sin. His report to customers states that the sale of the 49-acre plot of land, formerly occupied by the Wild Wild West Gambling Hall & Hotel, can be deemed a triple success for Red Rock while the Strip casinos might only experience a single.
The A’s new stadium, estimated to cost $1.5 billion, is expected to seat up to 35,000 people, potentially bringing an additional 400,000 visitors to Las Vegas annually. However, some local experts are not certain if the baseball venue will be as influential as the Raiders’ Allegiant Stadium and the T-Mobile Arena and Park MGM area. The analyst suggested that around 70% of the A’s attendance would come from the locals.
The A’s move and the area’s growing economy and population are seen as a positive for other local operators, such as Boyd Gaming (NYSE: BYD), Golden Entertainment (NASDAQ: GDEN) and Red Rock Resorts. The latter is planning to increase its Las Vegas Valley footprint by 2030. Construction of the new ballpark is planned to commence in the next year, with an anticipated completion date of the 2027 MLB season.
