Rio could be demolished to make room for Major League Baseball ballpark
The Las Vegas rumor mill has been churning out some particularly curious stories lately and we are all in to cover the juiciest ones properly. Focus this week has been on the off-Strip Rio All-Suite Hotel & Casino, best known as the home of the World Series of Poker for more than a decade now. According to rekindled reports about the property’s sale, a change of ownership might really happen this time.
Casino News Daily reported yesterday, citing information from popular blog about everything Vegas-related, Vital Vegas, that room service at the off-Strip resort would soon end at 11:00 pm daily and butler staff at the Palazzo Villa suites would be laid off in the coming week. These pieces of information could be a sign that Rio is being prepared to be sold.
Last night, Vital Vegas added in a pair of tweets that Rio could be demolished and that the site could be redeveloped into a Major League Baseball ballpark. It also seems that there has been an increased investor interest in land plots surrounding Rio.
We'll up the ante on our Rio sale rumor with another juicy tidbit: As we've shared, could very well be a land play. New rumor suggests Rio could be demolished, site to be developed as (wait for it) Major League Baseball ballpark.
— Vital Vegas (@VitalVegas) October 8, 2018
It is important to note that none of the above pieces of information has been confirmed. Casino News Daily has reached out to Caesars, but but the company has not responded to our email requests for comments.
Station’s $620-Million Investment Into Palms and Rio’s Potential Sale
Vital Vegas pointed out that the potential sale and demolition of Rio and the site’s transformation into a MLB ballpark could be linked to Station Casinos’ $620-million investment into the renovation of the nearby Palms Casino Resort.
Vital Vegas tweeted that the entertainment company has poured a massive amount of money into something “it can’t possibly recoup […] unless they know something we don’t”
There's been a spike in investor interest in parcels around Rio. The speculation part: If an MLB ballpark plan is in the works, it's an "Aha" moment for why Stations has invested so much in Palms when it can't possibly recoup the investment—unless they know something we don't.
— Vital Vegas (@VitalVegas) October 8, 2018
Station Casinos bought the property in 2016 and originally announced that would spend around $485 million in improvements. Earlier this year, it revealed that it has upped its investment in a bid to “destroy the old” and “usher in a new era of Las Vegas”.
Another Pro League Coming to Vegas?
Despite its unbreakable reputation as one of the world’s largest entertainment hubs, Las Vegas had up until recently existed in a relative vacuum in regards to its participation in the mainstream of spectator sporting events (excluding boxing championships and major Mixed Martial Arts events, of course). Things seem to be finally changing, though.
The Vegas Golden Knights of the National Hockey League are now into their second season of play, with the MGM Resorts International-owned T-Mobile Arena on the Strip being their home venue. In addition, the Oakland Raiders are set to be relocated from their long-time home of Oakland, California to Las Vegas as soon as next year, and to begin playing as the Las Vegas Raiders for the 2020 NFL season.
With two of the big four professional leagues now being in Vegas, there have been reports that the other two – that is the MLB and the NBA – would, too, look to establish presence in Sin City. That said, the construction of a ballpark could be the most logical move. It is yet to be seen whether one will indeed be developed and whether reports that Rio’s site might turn into the pro league’s Vegas home will prove to be true.
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