Saturday night in Las VegasĪround noon on a recent Saturday in Las Vegas, I went to MGM Grand to shop for show tickets. Reviewing this new version of Rio will be great when the time comes, but for now, what we’re dealing with is a property that has lost most of its luster over the past few years. You can probably expect significant tributes to the Amazon rain forest built into the central hotel and casino areas. They plan to embrace Rio’s Brazilian heritage by creating a more authentic atmosphere. New ownership has since publicly stated that they intend to lean into the existing Rio brand. Significant changes are coming to Rio, but the biggest question was whether a rebranding was coming (as is the case with Ballys becoming Horseshoe this year) or if the Rio theme would live on.
The new ownership group, consisting of east coast self-described “real estate guys,” are breaking into the gaming industry for the first time based on this sale. The sale terms allowed Caesars to continue operating Rio (while paying rent to Dreamscape) no later than December 2023. sold Rio to New York City-based Dreamscape Companies for $516 million. In September 2019, Caesars Entertainment Inc. Here’s our video review of our night at the Rio Rio sale and renovation plans
