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Reflag, revamp for the Rio: Travel Weekly

Reflag, revamp for the Rio: Travel Weekly
travelweekly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from travelweekly.com Daily Mail and Mail on Sunday newspapers.

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Gambling regulators give preliminary OK to new Rio operator

Gambling regulators give preliminary OK to new Rio operator
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Associated Press
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Friday, January 22, 2021
LAS VEGAS (AP) - Nevada gambling regulators granted preliminary approval to the new owners of the Rio hotel-casino to operate the off-Strip property.
The Las Vegas Review-Journal reported Friday that the Nevada Gaming Commission’s preliminary finding of suitability for executives of Dreamscape Companies LLC will set the owners up to operate the hotel-casino in a few years.
Dreamscape purchased Rio in late 2019 from Caesars Entertainment Inc. for $516.3 million. The deal called for Caesars to continue managing the property for two years at an annual $45 million rent, with an optional third year at $7 million. The lease agreement has been extended a year because of COVID-19, allowing Dreamscape to takeover management as l ....

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Off-Strip Rio Las Vegas ownership receives preliminary suitability finding by regulators

Newsroom
Howard Stutz, CDC Gaming Reports ·
January 22, 2021 at
7:13 am
New York-based Dreamscape Companies originally planned to take two years to consider its options for the off-Strip Rio Las Vegas after it acquired the property from Caesars Entertainment.
That was December 2019. Three months later, “the world collapsed” under the COVID-19 pandemic, Dreamscape principal Eric Birnbaum told the Nevada Commission Thursday.
“If I were sitting here in March or April 2020, I would have had a pessimistic or dour outlook,” Birnbaum said. “But today, we’re revving up the engines a little quicker than we anticipated.”
The Gaming Commission, acting on a recommendation earlier this month from the Gaming Control Board, granted Birnbaum and his partner, Thomas Ellis, a preliminary finding of suitability for the Rio, which is still operated by Caesars under a two-year lease agreement that pays Dreamscape $45 million a year. ....

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Industry - News: Owners Of Rio Las Vegas Promise Facelift

Industry - News: Fans of the Rio Las Vegas will be happy to hear the aging 30-year-old property will be getting a much-needed makeover that the new owner says has ....

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The Rio's new owners get suitability approval from Nevada Gaming Control Board

The Rio s new owners get suitability approval from Nevada Gaming Control Board
The pandemic has slowed Dreamscape’s plans to move quickly on upgrading the Rio All-Suite Hotel & Casino, which reopened on December 22.
United States |
01/08/2021
The recommendation issued Wednesday for Eric Birnbaum and Thomas Ellis will go to the Nevada Gaming Commission for final approval on January 21. The company expects to take over the property from Caesars before 2023. They anticipate a strong rebound for the Rio and Las Vegas driven by pent-up demand once the pandemic is over.
T
he Nevada Gaming Control Board on Wednesday unanimously recommended a preliminary finding of suitability for two executives of ....

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