He said work would begin refurbishing all of the 1,500 suites in the resort’s Ipanema Tower, one floor at a time so that the property can remain open during the work. The time enabled Birnbaum and his associates to affirm its $350 million redevelopment package for the Rio. “COVID really allowed us to implement our business plan and hire individuals to really steer the ship and get us into the position we’re currently in today.”

“We certainly didn’t have as eventful a journey as the gentleman at the Fontainebleau had, but it certainly was an interesting journey,” Birnbaum said. In their appearances before the Control Board, the executives provided new details on their respective projects.īirnbaum told board members the shutdowns that occurred in the COVID-19 outbreak helped Dreamscape because it gave them the opportunity to fully form its redevelopment strategy during down time. It has since had other owners but was taken over by original developer Soffer in February 2021 and is now due to open in December.įinal approval of the licenses are expected to be considered by the Nevada Gaming Commission on July 27. That is when Dreamscape will take over operations if licensing is approved.Ĭonstruction of the Fontainebleau began in 2007 but stopped in 2009 during the Great Recession. The Rio casino operation, managed by Caesars Entertainment Inc., was acquired from Caesars by Dreamscape in December 2019 for $516 million with an existing Caesars management agreement ending Oct. executives Eric Birnbaum and Thomas Ellis for the Rio and a preliminary finding of suitability for Bowtie Hospitality LLC executives Jeffrey Soffer and Brett Mufson for the Fontainebleau. The board, meeting in Carson City, recommended approval of the suitability of New York-based Dreamscape Companies Inc. The Nevada Gaming Control Board, in separate unanimous votes, recommended approvals of gaming licenses for top executives of the Rio and north Strip Fontainebleau’s 3,644-room resort. The Rio in August will start a two-phase $350 million renovation of the 2,500-suite resort, which opened in 1990, refreshing all rooms, the casino, many of its food-and-beverage outlets and its pool deck.įontainebleau officials, meanwhile, provided new details about the resort, including plans for entertainment residencies in a 3,800-seat theater, the payment of 7,100 employees on a weekly basis instead of biweekly and a partnership with the nearby Las Vegas Convention Center. Top executives of the off-Strip Rio and the towering Fontainebleau due to open in December gave new details Wednesday on what they have planned for their respective properties. The Rio, seen in Las Vegas in March 2021.

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