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Tag Archives: Rio

US – Caesars to complete reopening schedule with Rio Las Vegas on December 2

Caesars Entertainment plans to resume operations at Rio All-Suite Hotel & Casino, as its final property to reopen company-wide in the US and Canada, following the COVID-19 pandemic. Beginning Tuesday, December 22, the hotel will accommodate weekend stays, Thursday through Monday, while the gaming floor will be open seven days a week. Additionally, Rio All-Suite…

US – Caesars completes sale of the Rio to Dreamscape

Caesars Entertainment has completed the previously announced sale of the Rio All-Suite Hotel & Casino to a company affiliated with Dreamscape Companies, which is owned and controlled by Eric Birnbaum, for $516.3m. Dreamscape acquires, repositions and/or develops hospitality, residential, retail, gaming and entertainment assets. In connection with the completion of the sale, a Caesars subsidiary…

US – Caesars sells Las Vegas casino for $516.3m

Caesars Entertainment is selling the Rio All-Suite Hotel & Casino to a company controlled by a principal of Imperial Companies for $516.3m, which implies a strong sales price to EBITDA multiple. Under the terms of the agreement, Caesars will continue to operate the property pursuant to a lease for a minimum of two years and…

Brazil – Mayor of Rio backs Las Vegas Sands proposal for Integrated Resort

The mayor of Rio de Janeiro Marcelo Crivella has defended the building of a large casino in Rio in order to look for new ways to develop the Downtown Port Zone. Crivella, who is also a Brazilian evangelical bishop, said: “I am against vice, against misery, unemployment, and the stagnation of the economy. Congress will…

Greece – New laws over late salary payments could see Greek casinos in hot water

Several Greek casinos could face legal problems including possible closures following new laws brought in last year stating that failure to pay employee salaries within 30 days, will result operating licenses being suspended for two months. Media reports out of Greece claim that Club Casino Loutraki, Casino Rio Casino, Casino Corfu and Casino Syros could…

Brazil – Sheldon Adelson meets Mayor of Rio

Sheldon Adelson, Chairman of Las Vegas Sands, alongside a number of other businessman and local politicians has met with mayor of Rio de Janeiro Marcelo Crivella to discuss a new government program aimed at driving economic growth. Governor of the state of Rio de Janeiro Luiz Fernando Pezão was also present at the meeting held…