![]() ![]() A few months later, the resort announced a $75 million addition which would further expand the casino, and would increase the hotel with 549 rooms, for a total of 1,410. The casino expansion opened at the end of 1993. The new hotel tower opened during Labor Day weekend, bringing the room count to 861. A $25 million expansion was announced later that year which would include more casino space. The hotel was soon successful, prompting a 437-unit addition, which broke ground on January 4, 1993. By 1992, MarCor had sold all of its other properties to focus solely on the Rio. The resort struggled during its first two years, due to its location away from the Strip. Marnell took over operations at the Rio 10 months after its opening, as he had found the early results dissatisfying. The Rio was the first casino opened by MarCor, which had largely focused on business parks and shopping centers. Resort officials believed that the property's location, just west of Interstate 15 and the Las Vegas Strip, would be appealing to tourists. The resort's target demographic would consist primarily of local residents and motorists from southern California. It also had 424 suites, five restaurants, five bars, and a pool with a waterfall. The property included a 44,000 sq ft (4,100 m 2) casino, with 900 slot machines and 42 table games. It featured a Brazilian theme based on Rio Carnival, and Brazilian musician Sérgio Mendes performed at the resort a few weeks later. The resort was designed and built by Marnell Corrao Associates. The groundbreaking ceremony included a 15-foot by 30-foot sand sculpture replica of the 21-story hotel. MarCor broke ground on the $80 million project on February 9, 1989. At the end of the year, it announced plans to build the Rio, which would be Las Vegas' first all-suite hotel-casino. The company purchased the vacant property in 1988, at a cost of $11 million. The Rio was originally owned by Anthony Marnell, the chairman of MarCor. Magicians Penn & Teller have entertained at the resort since 2001. The Rio has hosted numerous entertainers, including Danny Gans and Prince. Marnell was hired as architect for the renovation project, due to his prior experience with the resort. Birnbaum plans to begin a significant renovation in 2022, which includes rebranding the hotel portion under the Hyatt name. Caesars continues to operate the casino through a lease agreement extending into 2023. The Rio was sold to Dreamscape owner and New York investor Eric Birnbaum in 2019, at a cost of $516 million. Harrah's was renamed as Caesars Entertainment in 2010. Numerous repairs had to be made after the inspections revealed flaws and fire safety hazards. Portions of the hotel were closed in 2007 for county inspections, after it was discovered that renovations had been done a few years earlier without permitting. From 2005 to 2021, the Rio was the host site for the World Series of Poker. It would lose its popularity in the years to follow, as Harrah's would eventually turn its focus to other Las Vegas properties that it owned. The property suffered financially after the sale, in part because of new competition. ![]() In 1999, Marnell sold the Rio to Harrah's Entertainment for $766 million. The 41-story Masquerade Tower was added as well. A 1997 renovation added Masquerade Village, a two-story retail and restaurant complex which also featured the Masquerade Show in the Sky. The hotel includes the three-wing Ipanema Tower, which stands at 20 stories. The Rio's success prompted a number of hotel expansions in the 1990s. The property struggled during its first two years because of its off-Strip location, but it would eventually thrive. It was owned by Anthony Marnell and built by Marnell Corrao Associates. It was the first all-suite hotel in the Las Vegas Valley. It features a Brazilian theme based on Rio Carnival. It is owned by Dreamscape Companies LLC and operated by Caesars Entertainment. The Rio is a hotel and casino near the Las Vegas Strip in Paradise, Nevada, United States.
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