{"id":20556,"date":"2019-01-18T16:22:20","date_gmt":"2019-01-18T17:22:20","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=20556"},"modified":"2019-01-22T13:42:38","modified_gmt":"2019-01-22T13:42:38","slug":"rio-las-vegas-faces-new-wave-of-sale-rumors-what-about-wsop","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/rio-las-vegas-faces-new-wave-of-sale-rumors-what-about-wsop\/","title":{"rendered":"Rio Las Vegas Faces New Wave Of Sale Rumors \u2014 What About WSOP?"},"content":{"rendered":"

Rumors<\/strong> about the potential sale of the Rio All-Suite Hotel & Casino<\/strong> in Las Vegas, Nevada,<\/strong>\u00a0aren\u2019t new. But thanks to a few tweets from Vital Vegas<\/a>, a fresh round of whispers was served up this week.<\/p>\n

The popular Las Vegas news blog is claiming the property is on the market and still seeking a buyer.<\/p>\n

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For some background, Rio opened in 1990 and was sold to Harrah\u2019s, which is now Caesars Entertainment<\/strong>, less than a decade later. Rio\u00a0rumors have persisted over the years, dating back to the early 2000s.<\/p>\n

Last year, the rumor of the Rio sale popped up again, but it came with a twist: The all-suite hotel and casino, located just off the Las Vegas Strip,<\/strong> would be purchased and imploded to make way for a Major League Baseball<\/strong>\u00a0(MLB) stadium. That sale hasn\u2019t happened but the rumor of a potential sale continues.<\/p>\n

Does the Las Vegas pro sports craze mean MLB is coming?<\/h2>\n

Last year was big for professional sports in Las Vegas, and perhaps that\u2019s why there is an onslaught of gossip about an MLB team.<\/p>\n

The Vegas Golden Knights<\/strong> brought Las Vegas into the national sports scene. They had a notably fantastic inaugural season in the National Hockey League (NHL)<\/strong> and made it to the Stanley Cup<\/strong>.<\/p>\n

The year 2018 also marked the first season of professional soccer and professional basketball in Las Vegas. The Lights Football Club<\/strong> played their first season for the United Soccer League<\/strong> at Cashman Field. Meanwhile, the Las Vegas Aces<\/strong> played their first WNBA<\/strong> season since moving from San Antonio. The Aces play their home games at\u00a0Mandalay Bay<\/strong>.<\/p>\n

This year, the Las Vegas Aviators<\/strong> will begin their first season as the Oakland A\u2019s<\/strong> AAA affiliate. The new team will play in a brand-new, 10,000-seat stadium appropriately named Las Vegas Ballpark\u00a0in the Summerlin community.<\/p>\n

Also this year, the Oakland Raiders<\/strong> will make their home in Las Vegas. The new stadium for the National Football League<\/strong> (NFL) team is under construction just off the Vegas Strip near Mandalay Bay.<\/p>\n

While the talk about an MLB stadium continues, so do rumors about a National Basketball Association<\/strong> (NBA) team taking up roots in Las Vegas. MGM Resorts not only owns the Las Vegas Aces but it has multiple arenas in Las Vegas and multiple partnerships with the NBA.<\/p>\n

Rumors still swirl about an MLB stadium but it wouldn\u2019t be a surprise if Las Vegas got professional basketball first.<\/p>\n

Changing deal for Rio All-Suite Hotel & Casino<\/h2>\n

If sold, the land could actually be used in multiple ways. With its existing bones, the hotel and casino wouldn\u2019t necessarily have to be imploded. The property could continue to exist with a little freshening up. Or, it could be torn down and the land\u00a0on the site could be used for an attraction or stadium.<\/p>\n

Additionally, the sale price might have come down since last year. Previously, Caesars Entertainment was looking for a billion dollars<\/strong> for the Rio casino, hotel and land. Rumor is that Caesars\u2019 Real Estate Investment Trust (REIT), VICI Properties<\/strong>, could be a partner with a casino operator.<\/p>\n

VICI would own the land while another company would own and operate what\u2019s on the land. If this sounds familiar, it\u2019s because VICI and Penn National Gaming<\/strong> (PNG) recently partnered to buy Greektown casino in Detroit \u2026 for a billion dollars<\/em>.<\/p>\n

PNG paid $300,000 for the casino<\/strong> while VICI paid $700,000 for the land<\/strong>. Could the sale of Rio be another deal for this team?<\/p>\n

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