{"id":260281,"date":"2023-02-16T16:46:58","date_gmt":"2023-02-16T22:46:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=260281"},"modified":"2023-02-17T12:08:19","modified_gmt":"2023-02-17T18:08:19","slug":"rio-las-vegas-under-consideration-as-possible-mlb-stadium-site","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/","title":{"rendered":"Rio Back in Play as Potential Site of Las Vegas Baseball Stadium"},"content":{"rendered":"

Long-running rumors about the Rio Hotel & Casino Las Vegas potentially becoming the site of a Major League Baseball (MLB) stadium resurfaced Thursday. That added a third venue to the list of candidates that eventually may be the home ballpark for the Athletics, currently of Oakland.<\/p>\n

\"Rio
An exterior shot of the Rio All-Suite Hotel & Casino Las Vegas. It’s back under consideration as a baseball stadium site. (Image: Caesars Entertainment)<\/figcaption><\/figure>\n

Citing an unidentified source with knowledge of the matter, the Las Vegas Review-Journal <\/em>reported earlier today that the A\u2019s are mulling the land on which Rio resides as a possible site of a new $1 billion stadium. Speculation to that effect is several years old<\/a>, though recently died down as Tropicana and the Las Vegas Fair Grounds next to Circus Circus took center stage as potential stadium sites.<\/p>\n

As would be the case with Tropicana, erecting a stadium on the land on which the Rio resides would require demolishing the casino resort. By way of a December 2019 \u00a0$516.3 million sale-leaseback<\/a> transaction, Caesars Entertainment operates the gaming venue, while Dreamscape Companies owns the real estate.<\/p>\n

Speaking of Dreamscape and the Rio \u2026<\/h2>\n

The timing of the Review-Journal\u2019s <\/em>article is interesting, because it emerged just a day after New York-based Dreamscape said it raised $850 million in new financing. Some of that, the real estate investment trust (REIT) said, will be allocated to sprucing up the Rio.<\/p>\n

Additionally, the real estate developer announced the formation of two new entities<\/a> — one dedicated to owning experiential properties, including gaming venues, and another that could directly own and operate casinos.<\/p>\n

Given that those are Dreamscape\u2019s ambitions and that the Rio is currently the only gaming property in its portfolio, the company may not be in a hurry to sell the off-Strip venue. Then again, money talks, and the land is likely worth more today than what Dreamscape paid for it in 2019.<\/strong><\/p>\n

Should the A\u2019s formally announce a move to Las Vegas and select the Rio as the site of a new stadium, the team would acquire the property from Dreamscape, with the REIT likely providing some compensation to Caesars. For the gaming company, it could be a win-win, because it would receive some cash with which to reduce debt<\/a> while eliminating a lower-tier venue from its vast portfolio.<\/p>\n

A\u2019s Still Mulling Las Vegas<\/h2>\n

Earlier this week, MLB Commissioner Rob Manfred noted the A\u2019s are focusing on Las Vegas, and that it\u2019s not up for debate that the team needs a new stadium in Oakland. The club\u2019s lease expires after the 2024 season.<\/p>\n

\n

Still, reports suggest that A\u2019s ownership remains engaged with Oakland politicians in hopes of procuring a new stadium in that city. That is stoking speculation that the team is merely leveraging Las Vegas against its current home.<\/p>\n<\/div>\n

Separately, reports recently surfaced that Gov. Joe Lombardo (R-NV) may be open to some form of public financing to get the A\u2019s to Sin City. His predecessor, Democrat Steve Sisolak, was opposed to such a plan. It\u2019s likely Nevada taxpayers wouldn\u2019t foot the entire $1 billion tab. But they could take on as much as a quarter of that figure or slightly more.<\/p>\n","protected":false},"excerpt":{"rendered":"

Long-running rumors about the Rio Hotel & Casino Las Vegas potentially becoming the site of a Major League Baseball (MLB) stadium resurfaced Thursday. That added a third venue to the list of candidates that eventually may be the home ballpark for the Athletics, currently of Oakland. Citing an unidentified source with knowledge of the matter, […]<\/p>\n","protected":false},"author":46,"featured_media":202972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,81886,82963,1],"tags":[81897,23,81829,81967],"acf":[],"yoast_head":"\nRio Las Vegas Under Consideration As Possible MLB Stadium Site<\/title>\n<meta name=\"description\" content=\"Rio Las Vegas resurfaces as potential site of new baseball stadium.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rio Las Vegas Under Consideration As Possible MLB Stadium Site\" \/>\n<meta property=\"og:description\" content=\"Rio Las Vegas resurfaces as potential site of new baseball stadium.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-16T22:46:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-17T18:08:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/1559844902091.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/\",\"url\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/\",\"name\":\"Rio Las Vegas Under Consideration As Possible MLB Stadium Site\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/1559844902091.png\",\"datePublished\":\"2023-02-16T22:46:58+00:00\",\"dateModified\":\"2023-02-17T18:08:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rio Las Vegas resurfaces as potential site of new baseball stadium.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rio-las-vegas-under-consideration-as-possible-mlb-stadium-site\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/1559844902091.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/1559844902091.png\",\"width\":800,\"height\":600,\"caption\":\"The Rio Hotel & Casino Las Vegas. 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