The Review-Journal recently reported the A’s were seriously considering the Rio property as a potential location for a ballpark. New York-based Dreamscape did not respond to requests for comment Monday. The A’s declined to provide a comment for this story. Surface parking lots cover a big section of the site. Located on Flamingo Road about a mile west of the Strip, the Rio sits on 88.5 acres, property records show. His planned overhaul comes as Major League Baseball’s Oakland Athletics take a hard look at some properties in America’s casino capital for a possible ballpark, including excess land at the Rio.

Dreamscape, however, is “slated to officially take over and manage operations at the resort in 2023,” according to last week’s announcement.īirnbaum isn’t the first casino owner to launch an affiliated real estate arm, but he is the latest in a long line of investors to refresh a resort in Las Vegas. The funds will also be used to bankroll a “multi-phase renovation” of the Rio, according to a news release.Ĭaesars Entertainment, which sold the casino-resort to Birnbaum in 2019 for more than $500 million and leased it back, still operates the Rio. 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.

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