In this week's video, it is discussed how the Rio is not only sticking around, but it’s also getting much needed renovations.
With the temperatures soaring in Las Vegas, one would think that would be the hottest news in Sin City, but it’s not. That designation goes to the Rio All-Suite Hotel & Casino.
Despite rumors over the last few months that the Rio would be torn down to make room for a new Las Vegas MLB stadium
, which in fact will sit on the land formerly of the Tropicana Las Vegas, it’s not only not being demolished, but it’s also going to get a huge makeover. And by huge, we mean, $850 million.
Landlord Eric Birnbaum’s namesake company Birnbaum’s Dreamscape is going to 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 then be allocated toward all of the needed renovations.
Word on the street, is that Marnell Companies, which is the company that worked on the renovations at the Bellagio and Park MGM, will be in charge of the renovations. In total, the 2,500 rooms in both towers will be updated and the casino floor will be expanded from 117,000 square feet to 150,000 square feet.
Renovations will also be made to the restaurants, reception, and the pool deck. Interior design company Fettle Design will handle the changes to the pool deck and food hall areas, while Gianpiero Gaglione will handle reception and the Circle Bar. Lifescapes International firm will work on the entry drive and other pool zone.
As of now, there’s no start date for these renovations yet, but the Rio does plan to remain open during the construction.