Jake Banks | 11 Oct 2018

Rio All-Suite Venue For nearly a decade the Rio All-Suite Hotel and Casino has unsuccessfully been trying to shake the rumors of its sale. It has not been successful yet, thanks to a new round of rumors courtesy of Vital Vegas.

Vital Vegas is a well know Las Vegas blog run and written by blogger Scott Roeben. As with previous tales of the imminent sale, no formal confirmation has been forthcoming from the Caesars Entertainment Group, but the blogger is adamant it may well be in the pipeline.

Home To WSOP Since 2005

According to Roeben, 3 prominent gaming companies have expressed interest in this dated hotel and casino.

The reasons for the large amount of interest around the sale of this particular off-Strip hotel, is the fact that it has been home to the WSOP (World Series of Poker) since 2005. This has fuelled speculation that the WSOP main event will be moved to a new venue, most likely the new $375 million Caesars Convention Center which is currently being constructed.

The WSOP has also not commented on the rumors, which has led to readers challenging the blogger about his fact checking. The Rio has been one of the company’s most popular properties having been featured on ESPN every year during the main event.

If the hotel is indeed sold, the World Series of Poker main event will be held at a new venue for the first time since 2004.

An Aging Beauty

As far as Las Vegas properties go, the Rio All-Suite has been declining slowly over the years. Although still a popular property the development of integrated resort casino is really making her show her age. The venue has not had any renovations done to it in over a decade. Developed even before the Mirage, the Rio is over 30 years old and somewhat outdated, so it would make sense that Caesars wants to cut it loose.

The Word On The Street

Rumors coming from the hotel are that it will be ending its room service services at 11:00 pm daily, and that the onsite kitchen is closing its door. In addition, a significant amount of butler staff is set to be laid off in the coming weeks. This does lend some credence to the stories circulating, although this is not the first time they have been voiced.

The first rumor about the establishment being sold surfaced in 2010, and then whisperings were heard again in 2013.  2014 saw some speculation that it had been sold for $400 million, but this proved untrue. Only time will tell if the latest bout of murmurings are fact.

Source:

http://www.casinonewsdaily.com