The Rio Hotel Las Vegas – Games regulators got a glimpse of what’s in store for Rio on Wednesday, and it has nothing to do with tearing down a building or turning land into a baseball stadium.
The Nevada Gaming Control Board unanimously recommended a preliminary finding of fitness for Dreamscape Companies LLC principals Eric Birnbaum and Thomas Ellis. The board’s recommendation will go to the Nevada Gaming Commission for final approval on Jan. 21.
The Rio Hotel Las Vegas
Birnbaum said the property will undergo a “monstrous refresh” over the next two years after Dreamscape Rio opens and will rethink the food and beverage amenities that make the most sense for the 2,500-suite off-Strip property. Opened in 1990.
Swimming Pool At The Rio Hotel In Las Vegas
Dreamscape currently owns properties managed by Reno-based Caesars Entertainment Inc. The Birnbaum Company announced in September 2019 that it had purchased Rio for $516.3 million. Under the terms of the purchase agreement, Caesars will maintain the property for two years and pay $45 million in annual rent. Dreamscape has a one-year lease extension option that costs $7 million.
In an interview after the deal was announced, Birnbaum dismissed reports that the 90-acre Rio campus, which includes 22 acres of unused property, would be developed into a major league baseball stadium in an effort to lure a franchise to southern Nevada. There were also persistent reports that the building would be blown up to make way for a new opportunity.
“It’s unbelievable the rumors that are being thrown out there,” he told board members. “I’ve heard all about how we’re going to tear it down. I’m a big baseball fan, so I was excited when I heard we were recruiting for the Oakland Athletics (to move to Las Vegas), but it never happened.
Birnbaum told board members that the COVID-19 pandemic has slowed his company’s plans to move quickly in renovating the Rio. He said he enlisted the help of Cosmopolitan of Las Vegas CEO Bill McBeath as a gaming consultant.
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“We’re real estate guys, and I don’t claim to be a game expert,” Birnbaum said. “We’ve learned a lot by surrounding ourselves with what we think are some of the best and brightest in the industry. We are humbled and look forward to building a top team and project.
Birnbaum said it was nice to see the Rio reopen Dec. 22 after being closed since March.
“All we have to go on are the numbers in the table,” he said. “We couldn’t look at that when we had the property and see those numbers live. It’s a shame we couldn’t do it because of COVID. Luckily, on December 22nd, the Rio reopened on a partial basis, so we’re starting to get a little under the hood in real time, which is nice.
Once Dreamscape acquires the property, Plano expects Texas-based Ambridge Hospitality to “take an active role in managing the hotel,” Beerbaum said. Until then, Birnbaum and Ellis will have to apply for a more thorough finding of eligibility. The two first met when they both worked at Vornado Realty Trust, a real estate investment trust based in New York.
New Rio Las Vegas Owner Says Demolition Rumors False
Birnbaum said the biggest challenge was matching the property’s amenities to his potential customer profile, which he called “affordable luxury.”
“We are not wine. We are not Cosmo. We are not high profile,” he said. “But we are not inferior. We equate it with affordable luxury. You get good value for what you get and it’s a great experience for the price, you don’t feel like you’re taking advantage.
Birnbaum believes his company will benefit from being able to focus 100 percent on Rio while the property remains one in the Caesars portfolio.
“It’s bringing together an aesthetic that feels up-to-date and relevant, and then curating it with experiences, particularly relevant food and beverage brands that appeal to who we think are our customers,” he said. “We know, or at least we think we know, who our customers are and we’re going to create a product aimed at those customers.”
Rio Las Vegas Hotel Suites
He expects a strong return for Rio and Las Vegas once the effects of COVID-19 wear off.
“Our view is that the vaccine will exist and as a result, there will be a lot of demand going forward,” Birnbaum said. “Our view — and we could be wrong — is that Vegas is really poised to benefit from that.”
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An estimated 3.6 million people visited Southern Nevada in October, up 7.3 percent from last year and just 0.8 percent from October 2019.
View Of Las Vegas Strip From Voodo Bar In The Rio Hotel, Las Vegas, Nevada, Usa, North America Stock Photo
State gaming earnings topped $1 billion for the 20th straight month, including Clark County, which topped that mark, the Nevada Gaming Control Board announced Tuesday.
Our Strip skyline is already ridiculous with the Pyramid, the Eiffel Tower and the Statue of Liberty. It could be even more.
The Macau government will create new concession agreements for Las Vegas Sands Corporation, Wynn Resorts Ltd., MGM Resorts International and three other companies.
The new Wildfire Casino is expected to open in February with an updated look and feel – although the branding changes are already visible on a sign hanging at the construction site.
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Although it’s changing ownership to Hard Rock International, its 33-year legacy as one of Las Vegas’ first mega-resorts won’t soon be forgotten. The owner of the Rio All-Suite Hotel and Casino in Las Vegas plans to renovate and rebrand the 2,510-room off-Strip property to create more full-service Hyatt-branded hotels.
Dreamscape Partners bought the Rio from Caesars Entertainment in December 2019, with a sales agreement in which Caesars will manage the property for at least two years. Now Dreamscape and Hyatt Hotels are collaborating on a multi-phase redevelopment. One of Rio’s existing hotel towers will be converted into a 1,501-room Hyatt Regency hotel. However, no details have been released about the development timeline or the other Hyatt brands that will be part of the project (Park Hyatt? Andaz? Thompson?). The redevelopment is expected to be comprehensive, including gaming, retail, food and beverage and other areas.
Currently, the Hyatt name lives on in select service at the Hyatt Place brand in Las Vegas, though the company has a relationship with MGM Resorts that allows guests to earn and redeem frequent stay points.
Meeting space at the Rio includes a 55,000-square-foot pavilion ballroom; The 39,060-square-foot Amazon Ballroom, which can be configured into more than 18 breakout rooms; and the 20,306-square-foot Brasilia Ballroom, with a 24-foot-high ceiling and built-in stage. Total meeting space is 160,000 square meters. The property is also home to the 1,475-seat Penn & Teller Theater, which can be used for group events. A true destination within a destination, Rio, just west of the Las Vegas Strip, is an oasis of restaurants, nightclubs. , shows, games and other great Vegas-style getaways. With a fun atmosphere filled with carnival, music and dancing every day, the hotel wing travels around the rooftops of the Masquerade Village, offering a great taste of the Rio experience.
The Rio Las Vegas Has Outdated Rooms
Incredible action surrounds the heart of the 106,000 square foot casino, starting with a number of restaurants and shopping, including Masquerade Village, The Wall restaurant and eSports Lounge, All-American Bar & Grill, Carnival World Buffet and more. Guy Fieri’s El Burro Borracho, Hash House A Go Go, Smashburger, Voodoo Steak, Wine Cellar & Tasting Room and beyond. During your stay, be sure to experience the Voodoo Zip Line – a thrilling attraction that delivers a Las Vegas experience – sending guests more than 400 feet in the air at lightning speed, offering a 360-degree open view of Las Vegas. The Vegas Strip. The one-minute-and-10-second zip ride launches from the Voodoo Lounge atop the 50-story Rio Masquerade, sending guests cascading more than 800 feet to the Ipanema Tower and reaching speeds of up to 33 miles per hour. The VooDoo Zipline accommodates two riders at a time and has a unique feature – on the return trip guests ride an additional 800 feet back to the starting point, for a total ride of about a third of a mile.
For an after-dinner treat, catch one of the Rio’s many live shows, including Penn & Teller at the Penn & Teller Theatre, The Chippendales, Wow-Wonderland, The Comedy Cellar Show or “The Final Fight Championship Show.” . Surround yourself in atmosphere at Voodoo Cafe & Lounge and enjoy views of the Strip from the 50th and 51st floors.
The Rio has more than 2,500 apartments of 1,600 square meters and they come with
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