He noted that Houston billionaire Tilman Fertitta paid $270 million - or $44 million an acre - to acquire 6 acres “in a prime position” on the Strip last year. He used comparisons from recent Strip real estate transactions to come up with a value. JMP Securities gaming analyst Jordan Bender, in a research note last week following the A’s announcement, suggested the sale price was as much as $150 million.
The site, just west of Interstate 15 and the Strip, will also include an entertainment district surrounding the stadium with restaurants, shops and other attractions.
It’s unclear how much the A’s may be paying the locals casino operator for 49 acres off Tropicana Avenue and Dean Martin Drive for the Major League Baseball team’s 35,000-seat retractable roof ballpark. While the Oakland A’s make plans for a $1.5 billion baseball stadium, Red Rock Resorts is counting its money.
