July 13, 2023
The poor, neglected Rio Las Vegas. The resort has fallen from its glory days of hosting the World Series of Poker. It’s off the Strip and it’s been neglected. It’s been sold by Caesars, and even considered a joke of many vacationers and locals for years. But now, it’s getting some attention.
There was some talk that the whole complex would be torn down with a new baseball stadium to be built in its place, but that project has since been moved. So, the current landlord of Rio Las Vegas, Eric Birnbaum, has decided that a comprehensive renovation may be the only way to save the resort.
Now, Birnbaum’s Dreamscape company will utilize $850 million in capital to establish a real estate investment trust. That trust will assume ownership of the resort, as well as the hospitality and entertainment assets. The remaining funds will be allocated towards all of the renovations needed.
Currently, Rio Las Vegas has just over 2,500 rooms and a casino floor of 117,000 square feet. What is known is that the both of the towers will be renovated, and the entire property will be redone with more modern features. The casino will also be expanded to 150,000 square feet, and customer satisfaction will be prioritized via a fantastic array of offerings and exceptional hospitality.
The renovation work will be led by Marnell Cos., a leading Vegas architecture firm, which has also worked on the Bellagio and Park MGM. The goal is to return the resort to its former glory as an appealing destination for both tourists and locals. Interior design company Fettle will handle the changes to the pool deck and food hall areas, while Gianpiero Gaglione will handle reception and the Circle Bar.
Finally, the Lifescapes International firm will work on the entry drive and other pool zone. Plans to renovate Rio Las Vegas had been discussed previously by Birnbaum as far back as 2021. Details about the work, including a start date, have not yet been announced. Despite the ongoing renovations, the casino plans to remain open to the public.
