Now, Caesars Entertainment has officially announced that they have sold the Rio for $516.3 million to a group controlled in principal by Imperial Companies. But that doesn’t necessarily mean Rio will be revamped or torn down. “The Rio needs a little TLC and it hasn’t gotten a dime’s worth,” said Rio founder Tony Marnell, who sold the Brazil-themed resort in 1999 to Harrah’s Entertainment, now known as Caesars Monday, Sept. 23, 2019 | 5:57 a.m. Caesars Entertainment has completed a deal to sell the Rio but will continue to operate the Las Vegas property for at least two years, the company announced today. LAS VEGAS (KSNV) — Caesars Entertainment has sold the Rio All-Suite Hotel and Casino to a real estate investment company for $516.3 million, the company has announced. In 1998, Caesars – then known as Harrah’s Entertainment – purchased the Rio All-Suite Hotel & Casino from developer Marnell Corrao Associates for $518 million in stock and assumed debt of $303... Caesars Entertainment Corp.’s off-Strip Rio property is changing hands — finally. The 2,500-suite hotel and casino that was a Las Vegas innovation when it opened in 1990 has been sold to New Casino operator Caesars Entertainment has sold its Rio All-Suite Hotel & Casino in Las Vegas, the host venue for the annual World Series of Poker (WSOP) tournament.. On Monday, Caesars announced Rio All-Suite Hotel & Casino. Great value. Rio All-Suite Hotel & Casino . We decided to stay at Rio during the pandemic on Super Bowl weekend. We got a great deal on a suite I’m assuming because travel is down dramatically in Vegas, especially off the strip. I’ve stayed at...More - Luther0101. We decided to stay at Rio during the pandemic on Super Bowl weekend. We got a great deal on a LAS VEGAS (KTNV) - Multiple sources are saying that Caesars Entertainment has agreed to sell the Rio All-Suite Hotel & Casino to a New York-based real estate group. CDC Gaming Reports says that it... LAS VEGAS (AP) — Caesars Entertainment Corp. says it has completed the $516.3 million sale of its Rio All-Suite Hotel & Casino in Las Vegas. The company said Friday it will continue for at least two years to run the 2,500-room property and will pay an annual lease of $45 million to the new owner, newly formed Dreamscape Cos. Dreamscape is owned and controlled by Imperial Cos. co-founder Eric
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