Two Way Hard Three | Las Vegas Casino & Design Blog

January 29, 2007

Harrah's to Sell Rio to Maloof?

Posted by Hunter

We've heard all sorts of rumors about the sale of the Rio to various parties. Well, this one I can see maybe actually happening, just because it seems to actually make sense.

The Poker Prof says that the Rio is going to Maloof. We shall see.

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Categories: Business of Gaming, Caesars/Harrah's


Comments

Read archived comments (7 so far)
January 29, 2007 3:38 PM Posted by doc_al

What is the basis for all the Rio-sale rumors? Is it anything other than wishful thinking by pre-Harrah's Rio fans? Sure, it's not on the strip, but it's a nice property -- 3rd nicest Harrahs prop in LV behind Caesars and Paris -- and the only sizeable convention space Harrah's has in LV...

January 29, 2007 3:42 PM Posted by Hunter

I really don't know.

The PokerProf has had a pretty good track record on this stuff but I can't personally vouch for the info at all.

We'll just have to see I guess.

January 29, 2007 4:59 PM Posted by John

I just can't see Harrah's selling the Rio. Without that huge convention space, where would Harrah's host the WSOP. I mean, Caesars has a sizeable convention area, but nothing like what Rio has. Unless, they decide to use the soon-to-be-demolished Events Center. Also, I really can't see Maloof taking over the Rio. It just isn't a property that I can see that man, turning into the Palms 2. Who knows, though.

January 30, 2007 7:25 PM Posted by rob

harrahs has been trying to dump the rio for a while, other than the week of the wsop it is always an underperfomer, and now since harrahs has barbary coast, they have no need to use rio as any trade/sale leverage, so they are probably willing to split with it for a nominal fee. but with the new acquisition of harrahs, who knows what they really have in store, all their major project plans on the strip could go down the tubes.

however i see the rio as a great pick up for the maloofs, they could have thier own private "strip" with the palms and rio (aside from the gold coast), i could definitely see the maloofs doing good with the rio, especially since they would then own some of the best clubs in town (view-wise) with moon, ghostbar, and voodoo lounge, so i guess we shall see

April 25, 2008 11:54 AM Posted by jeff

Well, over a year later and Im hearing these rumors again... supposedly the deal would include the WSOP and is to be announced this summer. ??? Don't hold your breath.

November 30, 2008 12:49 PM Posted by karen

well it did happen. 2009 is the last WSOP at Rio, it will be going to Cesars after that, also the rumors at Rio is Maloof did buy it

November 30, 2008 1:09 PM Posted by mike_ch

Really? I had heard the Palms might not have been in a situation to pull that off, so it's surprising to me.