You might think Rio Casino is the property of a large, wealthy corporation. But the truth is, you’d be wrong.
Rio Casino is actually owned by a small group of investors, and the profits they receive are nothing to scoff at.
So, if you’re curious to learn more about who owns Rio Casino and how it’s making money, keep reading.
- Caesars Entertainment Corporation purchased Rio Casino in 1999.
- In 2017, Rio Casino was sold to Dreamscape Companies for $516.3 million.
- The sale required approval from the Nevada Gaming Commission and thorough financial review of the buyer.
- Rio Casino pays taxes on gaming revenue, contributing to the state’s Local School Support Tax and special capital improvement tax for infrastructure and public projects.
Current Owner: Profits
You may be surprised to learn that Rio All-Suite Hotel & Casino has been through many changes in ownership since it opened in 1990.
The casino has gone through a series of legal ownership changes, from when it first opened until now.
As of 2020, the current owner of Rio All-Suite Hotel & Casino is Caesars Entertainment Corporation, who purchased the hotel in 1999 and have since then generated profits from the casino.
Historical Ownership Changes: Legalities
Throughout its history, Rio Casino’s ownership has been subject to various legal changes. From the early days of Las Vegas nightlife, legal challenges have been common for any business venture in the area. Here are three key points to consider:
In 1999, the Rio was acquired by Harrah’s Entertainment, which changed its name to Caesars Entertainment in 2010.
In 2017, Caesars sold the Rio to Dreamscape Companies for $516.3 million.
The sale process was subject to approval by the Nevada Gaming Commission, which was granted after a thorough review of the buyer’s financials.
About the Casino: Amenities
If you’re looking for all the amenities you could ever need, then the Rio Casino in Las Vegas is the place for you!
You’ll find a pool and spa to relax in, plus several restaurants and bars to enjoy.
So if you’re looking for a luxurious getaway, the Rio Casino has exactly what you need.
Location: Las Vegas
Located in Las Vegas, Nevada, Rio Casino is owned by Caesars Entertainment Corporation. This location offers plenty of excitement and entertainment, with its restaurants, bars, clubs, and gaming. Whether you are a local or a visitor to the area, Rio Casino has something for everyone.
The location is convenient with a variety of parking options nearby for all guests. There are also several location restrictions in place to ensure the safety of all visitors.
Enjoy the thrill of the gaming experience with a variety of table games and slots. Take a break and enjoy a drink at one of the many bars or restaurants. At Rio Casino, you can have a fun night out with friends, or a romantic evening away from the hustle and bustle of the Las Vegas Strip.
Features: Pool, Spa
Rio Casino boasts a luxurious pool and spa area, perfect for those looking to relax and unwind. You can enjoy a day of fun in the sun with pool parties, or take it easy with a range of spa treatments. The pool area is equipped with a bar and plenty of seating, making it an ideal spot to hang out with friends. The spa features a variety of amenities, including a hot tub, sauna, and steam room. Whether you’re looking to kick back and relax or get your heart racing, the pool and spa at Rio Casino have it all.
|Pool Parties, Relax and Unwind
|Spa Treatments, Sauna, Hot Tub
Amenities: Restaurants, Bars
You’ll love the restaurants and bars available at Rio Casino. There are plenty of options for a great meal or a night out with friends. Enjoy traditional Brazilian cuisine or try out a variety of international dishes. Refresh yourself with a cocktail or two and enjoy the lively atmosphere.
The casino’s management strategies and culture impact have created a vibrant and inviting atmosphere. You’ll love the variety of options available, from casual to upscale dining and bars. There’s something for everyone to enjoy.
Whether you’re looking for an intimate dinner for two or a fun night out with friends, Rio Casino has the perfect spot for you.
Current Revenues: Taxation
From its location in Las Vegas, Nevada, the Rio Casino pays a considerable amount of taxes to the state. This money goes toward a range of social impact initiatives, from schools to healthcare.
As one of the largest casinos in the world, the Rio Casino is subject to strict gaming regulations set by the Nevada Gaming Commission. Revenue generated from the casino is taxed at a rate of 6.75%, which is applied to all gaming machines, table games, and sports betting.
The Rio Casino also contributes to the state’s Local School Support Tax, which is assessed on all gaming winnings. This money goes toward public schools, and helps fund essential educational services.
Additionally, the Rio pays a special capital improvement tax that goes toward the development of infrastructure and other public projects.
6.75% tax rate on gaming machines, table games, and sports betting
Local School Support Tax on gaming winnings to fund public schools
Special capital improvement tax for infrastructure and other public projects