VitalVegas reports this morning that Dreamscape, the New York real estate firm that bought the Rio from Caesars in 2019, has been relegated to a minority ownership position. Private-credit company Kennedy Lewis Investment Management seems to have “purged” some of the executives and minority shareholders and has “quietly taken over.” Kennedy Lewis has let the contracts with the CFO, VP of marketing, and VP of sales expire and VV gives the CEO 60 days to follow them out the door. It’s yet another transition for the struggling Rio and we’ll pay closer attention to the big off-Strip hotel-casino directly across the street from our office to see what the new future has in store.
Source: Las Vegas News