![]() There’s an option for a one-year lease extension that would cost Dreamscape $7 million.Ĭaesars retained the rights to the World Series of Poker, a staple at the Rio since 2005. Under terms of the purchase agreement, Caesars would manage the property for two years and pay $45 million in annualized rent. Birnbaum’s company announced that it had acquired the Rio for $516.3 million in September 2019. 21.īirnbaum said once Dreamscape begins operating the Rio sometime in the next two years the property would get “a monster refresh” and a re-examining of what food and beverage amenities make the most sense for the 2,500-suite off-Strip property that opened in 1990.ĭreamscape currently owns the property that is managed by Reno-based Caesars Entertainment Inc. The board’s recommendation will go to the Nevada Gaming Commission for final approval Jan. The Nevada Gaming Control Board unanimously recommended a preliminary finding of suitability for Dreamscape Companies LLC executives Eric Birnbaum and Thomas Ellis. (Benjamin Hager/Las Vegas Review-Journal) regulators got a glimpse of what’s in store for the Rio on Wednesday, and it has nothing to do with tearing the building down or turning the land into a baseball stadium. Rio on Thursday, May 9, 2019, in Las Vegas.
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