Bally’s Buying Tropicana Hotel on Las Vegas Strip for $308 Million

Sunlight illuminates a sign at the Tropicana hotel and casino in Las Vegas, Nev., on Aug. 4, 2015. John Locher/AP Photo

LAS VEGAS—The Tropicana Las Vegas Hotel and Casino, a Sin City namesake, is being sold to a new entrant among Las Vegas Boulevard resort owners.

Rhode Island-based Bally’s Corp. announced Tuesday it will acquire the iconic Strip property from Gaming and Leisure Properties Inc. for about $308 million.