Key Takeaways
- Caesars will continue to manage The Rio for the next two years and pay annual rent of $45 million.
- At the end of this time and by request of Imperial Companies, Caesars may continue to manage The Rio.
- “The retention of the World Series of Poker and … Rewards customers are all factors that make this a valuable transaction.”
Caesars Entertainment has confirmed that it has sold The Rio All-Suites Hotel and Casino in Las Vegas to New York investment firm Imperial Companies for $516.3 million.
The World Series of Poker, hosted at The Rio since 2005, will still play out at the hotel and casino in the summer of 2020, it has been confirmed.
