LAS VEGAS (KLAS) — Bally’s confirmed Monday morning that it has a binding agreement with the Oakland Athletics to build a new ballpark on a portion of the Tropicana Las Vegas property.

According to a news release from Bally’s, the agreement is in conjunction with Gaming & Leisure Properties, or GLPI, which has agreed to fund $175 million for the development. Nine acres of the 35-acre site on Las Vegas Boulevard and Tropicana Avenue will be the site for the new ballpark which is expected to accommodate around 30,000 fans.

Bally’s President, George Papanier, said, “We are honored to have been selected to partner with the Oakland Athletics on this monumental step in helping to bring Major League Baseball to the great city of Las Vegas, and to be a part of the once in a generation opportunity of having a professional baseball team located within a short walk of the Las Vegas Strip.”

State Sen. Scott Hammond (R) spoke to 8 News Now regarding his knowledge of the latest announcement.

“What we know now is that this is an opportunity for Las Vegas and the state of Nevada honestly to expand their sports presence,” he said. “As far as the bill, not sure exactly when it’s going to come.”

Earlier, the A’s announced a binding agreement with Red Rock Resorts to build a stadium near the Las Vegas Strip.

Whatever happens, the project will need approval from state lawmakers for tax breaks and that debate is still happening.