The hotel is being demolished to make way for a Major League Baseball stadium that will be the new home of the Athletics. The A's are slated to move to Las Vegas for the 2028 season.
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The Bally's Corporation says demolition will start in October.
The resort - one of the few remaining casinos that opened during the city's mob era - would have celebrated its 67th anniversary later this week.
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The Associated Press contributed to this report.