The Rio Hotel & Casino, a vibrant landmark just off the Las Vegas Strip, has long been a symbol of bold innovation and Brazilian-inspired flair. Since its opening in 1990, the resort has weathered shifts in ownership, evolving guest expectations, and the competitive landscape of Las Vegas hospitality. Today, under the stewardship of Dreamscape Companies, the Rio is undergoing a transformative multi-year renovation, aiming to reclaim its status as a premier destination. This article explores the latest developments at the Rio, including its ownership, current dining options, recent closures, and ambitious plans for 2025 and beyond, offering a comprehensive look at an icon reborn.
Ownership and Recent History
The Rio’s journey began under the vision of Anthony Marnell, whose Marnell Corrao Associates designed and built the resort as Las Vegas’ first all-suite hotel-casino, opening on January 15, 1990. Its Brazilian Carnival theme and innovative features, like floor-to-ceiling glass in all rooms, set it apart. In 1999, Harrah’s Entertainment (later Caesars Entertainment) acquired the Rio for $766 million, ushering in a period of prominence, including hosting the World Series of Poker from 2005 to 2021. However, by the 2010s, the resort’s shine faded as Caesars prioritized its Strip properties, leaving the Rio struggling to compete.
In 2019, Dreamscape Companies, led by New York real estate investor Eric Birnbaum, purchased the Rio for $516.3 million. Caesars continued to operate the property under a lease agreement until October 2023, when Dreamscape assumed full control. This transition marked the start of an $850 million, multi-phase renovation project, with Marnell Architecture—helmed by the resort’s original designer—brought back to oversee the transformation. Dreamscape’s vision is to modernize the Rio while preserving its vibrant legacy, blending affordability with elevated luxury. The company has also partnered with Hyatt Hotels, integrating brands like Hyatt Regency to enhance guest experiences and offer World of Hyatt loyalty rewards.
Current Dining Options
The Rio’s dining scene, once a hallmark of its 1990s heyday with five restaurants ranked in Zagat’s top-40 list, has seen significant updates. Dreamscape’s renovations have introduced eight new food and beverage venues, replacing outdated concepts with fresh, approachable options. Here’s a look at the key dining spots available in 2025:
- Canteen Food Hall: Opened in January 2024 in the former Carnival World Buffet space, this fast-casual hub features six culinary concepts designed for comfort and variety. Highlights include:
- Attaboy Burger: Gourmet burgers with a Vegas twist.
- Nama Nama: Lobster hand rolls using premium claw and knuckle meat.
- Tender Crush: Flavorful chicken tenders, including a Nashville Hot-inspired option, paired with biscuit-batter doughnuts.
- Tony Luke’s: Philly-style pizza steak sandwiches.
- Shogun Ramen: Authentic ramen dishes.
- Southland Burrito Co.: Fresh, customizable burritos.
The food hall, designed by Fettle to evoke Brazilian street markets, prioritizes quality ingredients and bold flavors.
- VooDoo Steak: Located atop the Masquerade Tower, this upscale steakhouse remains a staple, offering prime cuts and panoramic views of the Las Vegas Valley. Its enduring appeal lies in its romantic ambiance and classic menu.
- Hash House A Go Go: Known for its oversized portions and “twisted farm food,” this popular spot serves hearty breakfast and comfort dishes, drawing both locals and tourists.
- Guy Fieri’s El Burro Borracho: This lively eatery brings the celebrity chef’s bold Mexican flavors, with tacos, burritos, and margaritas in a festive setting.
- Luckley Tavern & Grill: Opened in May 2024, this English-style pub offers an all-American menu with reimagined classics like prime steaks and buffalo wings, paired with a curated cocktail list.
- Lapa Lounge: Launched in July 2024, this sophisticated cocktail bar draws inspiration from Rio de Janeiro’s Lapa neighborhood, serving vibrant, reimagined cocktails in a tropical, Bohemian setting.
- Wine Cellar Tasting Room: Reopened in April 2024 after a multi-year closure, this intimate venue caters to wine enthusiasts with rare, hard-to-find vintages, offering a cozy retreat for oenophiles.
Dreamscape has teased six additional restaurants to debut in 2025, though specific names remain undisclosed to keep competitors guessing. These new venues are expected to further elevate the Rio’s culinary profile, aligning with its goal of offering dynamic, modern dining.
Recent Closures
The Rio’s transformation has involved phasing out several outdated or underperforming venues to make way for fresh concepts. Notable closures include:
- Carnival World Buffet: A longtime fixture, the buffet was shuttered to accommodate the Canteen Food Hall, reflecting a broader trend in Las Vegas away from traditional buffets toward more curated dining experiences. Dreamscape has confirmed the buffet will not return.
- Seafood Village Buffet: Once a separate eatery from the Carnival World Buffet, this venue has also closed as part of the resort’s dining overhaul.
- Napa: This 1990s-era restaurant, overseen by chef Jean-Louis Palladin, was a culinary highlight but closed years ago and has not been revived.
- Mama Marie’s Cucina: An Italian restaurant named after Tony Marnell’s mother, it was part of the Rio’s early dining lineup but is no longer operational.
- Chippendales: The male revue, a Rio staple from 2002 to 2024, ended its run as Dreamscape shifted focus to other entertainment options.
These closures reflect Dreamscape’s strategy to streamline the resort’s offerings, replacing nostalgic but dated concepts with modern, guest-centric experiences.
Plans for 2025 and Beyond
The Rio’s multi-year renovation, backed by $850 million in financing, is progressing in phases, with the first phase completed in September 2024. Key updates include renovated suites in the Ipanema Tower, a revamped 5-acre pool district with four distinct pools, 220,000 square feet of modernized convention space, and a striking exterior LED light installation by designers Chris Kuroda and Andrew Giffin. Phase two, focusing on the Masquerade Tower, is slated to begin in 2025, with completion expected to wrap up the property-wide transformation.
Dreamscape’s plans extend beyond physical upgrades. The resort has introduced the Rio Rewards loyalty program, touted as one of Las Vegas’ most lucrative, allowing players to earn rewards up to eight times faster than at other casinos. The casino floor, spanning 150,000 square feet, is being refreshed with over 1,000 new slot machines and a modernized management system by IGT, enhancing player experiences with bonuses and promotions.
A bold proposal by Birnbaum is a pedestrian skybridge connecting the Rio to Caesars Palace across I-15, inspired by New York’s High Line. This would address the resort’s off-Strip location, making it a seamless extension of the Strip’s resort corridor. Discussions with county commissioners are ongoing, though no timeline exists due to regulatory and construction complexities. Birnbaum also envisions a revitalized “neighborhood” west of the freeway, encompassing the Rio, Palms, and Gold Coast, to create a destination akin to Fremont Street.
The Rio’s sports and entertainment prospects are also notable. In 2023, Dreamscape offered its northeastern parking lot for $1 to the MLB’s Oakland Athletics, though the team declined. In 2024, the Oak View Group began considering the Rio as a potential site for an NBA arena, signaling its appeal for large-scale projects. The sportsbook is set for a facelift, likely operated by a third party, and the resort will remain a hub for entertainment with long-running shows like Penn & Teller.
Conclusion
The Rio Hotel & Casino is at a pivotal moment, with Dreamscape’s $850 million investment breathing new life into a property that once defined Las Vegas innovation. The completed first phase has delivered modern suites, a vibrant dining scene led by the Canteen Food Hall, and refreshed public spaces, while closures like the Carnival World Buffet mark a shift toward contemporary hospitality. As phase two unfolds in 2025, alongside ambitious plans like the skybridge and neighborhood revitalization, the Rio is poised to reclaim its place as a dynamic, approachable luxury destination. For locals and tourists alike, the Rio’s rebirth offers a compelling reason to rediscover this iconic resort, where nostalgia meets modern flair.
