It will use the funds to launch a real estate investment trust that will own casino, hospitality and entertainment assets, and form an entity to operate such businesses. The Rio, which opened in 1990, also could see another big change: a baseball stadium next door.īirnbaum’s firm, Dreamscape Companies, announced last week that it raised $850 million in capital. Rio landlord Eric Birnbaum unveiled plans to renovate the off-Strip resort and take charge of daily operations.
(Bizuayehu Tesfaye/Las Vegas Review-Journal) The Rio hotel-casino is seen in 2020 in Las Vegas.
