If you were hoping for a Major League Baseball stadium to replace the Rio All-Suites Hotel and Casino in Las Vegas, or an immediate new spot for the World Series of Poker, you can forget about it. The sale of the off-Strip mega-resort was finalized for $516.3 million, and the new owner isn’t planning to demolish the structure.
Caesars sold the casino to Dreamscape Companies in September. That sale has finally been finalized and we now have an idea of what to expect from the property in the future.
Renovations on the Horizon for the Rio?
After the Caesars-owned property was sold, many speculated on what may become of the property. Some, including Vital Vegas, a local blogger, suggested the space would become the future home of an MLB stadium. Others anticipated the sale would force Caesars to move the WSOP elsewhere. The Rio has been the home of the World Series of Poker since 2005.
We don’t know what the distant future holds for poker’s annual summer series, but Caesars will continue operating the property for the next two years. That means the WSOP isn’t going anywhere, any time soon. That said, it’s possible, if not probable, the WSOP will move eventually.
We do know, however, the Rio won’t become the site for a Major League Baseball stadium. Most expect the building to be renovated instead. The Los Angeles Angels of Anaheim, the baseball team some predicted would move to Las Vegas, recently announced a new agreement with the city of Anaheim to stay put until 2050.
The Arizona Diamondbacks were also rumored to be looking to move to Las Vegas, but those talks also fell through. So, as of now, it doesn’t appear the Rio, or anywhere else in Sin City will host an MLB franchise.
What’s Next for the World Series of Poker?
Seth Palansky, the WSOP’s vice president of corporate communications, guaranteed the series would remain at the Rio in 2020, and likely, 2021. After that, it’s anyone’s guess. Many poker players believe the Rio is outdated, and would like to see the series move elsewhere.
Should the series move, it would likely end up at the new Caesars Convention Center, which will be located on the Strip at the Linq entertainment district once the construction is complete.