IGT Wins Tech Contract For Rio Las Vegas
International Game Technology (NYSE: IGT) has been awarded a contract from Dreamscape Companies to supply technology services to the Rio Hotel & Casino in Las Vegas.
Dreamscape, the new owner of the Rio Hotel & Casino in Las Vegas, announced a partnership with IGT that will see the gaming technology provider manage casino tech at the venue, starting in the fourth quarter. This agreement will commence when Dreamscape takes over operational control of the property from Caesars Entertainment. As part of the transaction, IGT’s IGT Advantage system and M5 content delivery solution will be utilized by Rio Hotel & Casino. The M5 solution will run bonuses on the Lucky Coin and Random Riches gaming machines. According to Rio Hotel & Casino chief gaming officer, Kevin Sweet, the IGT Advantage and M5 solution, as well as the bonusing and service apps, will enable Rio to offer an unparalleled gaming floor and loyalty program. Financial terms of the agreement were not disclosed.
More Rio Plans are in store following the $516.3 million sale-leaseback deal between Caesars Entertainment (NASDAQ: CZR) and the venue back in December 2019. The agreement keeps CZR in operation of the site.
More Rio Plans
Dreamscape has just unveiled the architecture and design teams that are planning to start a major renovation of the Rio soon in the fourth quarter of this year. The teams, Fettle, Gianpiero Gaglione Interior Design (GGID), Lifescapes International, and Marnell Architecture, will all be responsible for the upgrades to the 2,500 all-suite guest rooms, 150,000 square-foot casino floor, the 220,000 square-foot meeting and conventions space, the five acre spa, and any new food and beverage concepts that will be added. There were some interesting connections here as Marnell was actually the original operator of the Rio, and were also associated with many large Las Vegas Strip projects, such as the Bellagio, Cosmopolitan remodel, Aria, and Caesars Palace convention space expansions.
Dreamscape Committed to Rio, Lifescapes International boasts a strong background in gaming. The company’s portfolio features a long list of highly-regarded landscape designs for notable ventures such as Wynn and Encore Las Vegas, Bellagio Hotel & Casino, The Mirage, Pendry West Hollywood Hotel & Residencies, Four Seasons Hotel Macao, Fontainebleau Miami Beach, and others, as stated in its overview.
Dreamscape Committed to Rio
In February, Dreamscape announced that they had raised $850 million in capital, a portion of which will be put towards the refurbishment of Rio. Their goal is to keep the original foundation of the property while adding modernized amenities and services to match the wants of current gaming and hospitality guests. Dreamscape will start managing the resort in 2023, with the potential to invest in other gaming developments.
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