Can the Rio Reinvent Itself After 35 Years?

The Rio Hotel & Casino has a fresh new look and is showing off some impressive renovations since coming under the ownership of Dreamscape in 2019. It’s been a rocky road for the property, which started strong 35 years ago, but stumbled and is now aiming for a dramatic Las Vegas comeback.

🎊 A Trend-Setting Resort

The Rio opened on January 15, 1990, helping define the family-friendly, mega-resort era of Las Vegas in the following decade. It was the first all-suites hotel in Las Vegas and set new standards with floor-to-ceiling windows in every room. The property took inspiration from Brazilian carnivals for its theme, emphasizing bright colors and showcasing “Ipanema Girls” as cocktail servers on the casino floor. The Rio was the first Vegas resort to have a full-scale nightclub and white sand at the pool deck. Opening up the buffet kitchen to the dining room was also a new concept for the time.

🧳 Rough Start

Despite strong reviews, it took the Rio two years to see a profit. The resort was just a mile west of the Strip, but felt disconnected from the tourist corridor until owner Anthony Marnell financed the construction of a sidewalk on Flamingo Road. Money was reinvested into the property, adding a second hotel tower in 1997 and unveiling the Masquerade Village, famous for a free show that ran seven times a day with overhead floats and costumed performers who tossed Mardi Gras-style beads to spectators.

📉 Difficult Times

Harrah's Entertainment (later renamed Caesars Entertainment) bought the Rio in 1999, but business leveled off in the face of new competition on the Strip. It soon became a neglected property. Caesars spent $600 million to upgrade properties over much of the last decade, but none of that went towards the Rio.

🎶 An Era of Entertainment

The property hosted the World Series of Poker from 2005 to 2021, which boosted summer business. Over the years, the Rio was also home to a brief Prince residency in a showroom converted into “Club 3121”, local favorite Danny Gans (whose departure hurt hotel business), the Chippendales all-male revue, and Penn & Teller, still going strong as the longest-running show currently active in Vegas.

🤯 Sky-High Attractions

At one point, the Rio operated a zipline between its two hotel towers and even considered building the world’s tallest observation wheel on property. It didn’t happen, but visitors already had spectacular panoramic views of the Strip on the 50th floor at VooDoo Steakhouse (which will reopen this year as High Steaks, under the direction of Vegas chef James Trees).

It’s just one part of a property-wide glow-up that includes new LED exterior lighting, refreshed rooms, and restaurants — among them a food hall that exceeds expectations 🍽️