Rio all suite hotel casino convention11/22/2023 Rio is the last of nearly five dozens of Caesars-operated properties around the US to have remained closed since the coronavirus-induced nationwide casino closures this past spring. ![]() The resort’s new owner has the option to pay Caesars $7 million to extend the lease agreement under similar terms for a third year. Under a lease agreement between Caesars and Rio’s new owner, the casino giant continued to run the property’s day-to-day operations for at least two years and annual rent of $45 million. It has been shuttered since then, but Caesars CEO Tom Reeg said Thursday during a Q3 earnings conference call that the hotel-casino resort is scheduled to reopen by the end of the year.Īfter nearly a decade of speculation over Rio’s fate, Caesars sold the property late last year to a company affiliated with Dreamscape Companies, which is owned and controlled by New York developer Eric Birnbaum in a $516.3 million deal. The off-Strip casino, best known for being home to the annual World Series of Poker, closed doors in mid-March as Nevada was fighting to curb the advance of the coronavirus. ![]() Rio All-Suite Hotel and Casino in Las Vegas is set to resume operations before 2021, the property’s operator, Caesars Entertainment Inc, said this week.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |