Whatever happens with the building, Bally’s Chairman said the property will most likely be reimagined and renamed “Bally’s.” īally’s Corporation first reached a $308 million deal to buy the property last April, a transaction expected to close sometime this year. The chairman of the casino operator, Soohyung Kim, whose investment company last week made an offer to buy remaining stock in Bally's, said the company was open to exploring a series of options, including the demolition of the venue, reports KSNV. Iconic Vegas Strip resort Tropicana could see some big changes under Bally’s management, which is set to finalize its acquisition this year.