Rio Hotel & Casino Owner Raises $850 Million to Remodel Las Vegas Strip Property

Dreamscape Cos., the New York-based real estate investor and owner of the Rio Hotel & Casino in the Las Vegas Strip, has raised $850 million to support the intention to overhaul the Las Vegas resort and invest in further developments of other similar properties.


Funding was managed by pension funds, insurance companies, and individuals; Raymond James Financial Inc. led the equity private placement and Wells Fargo & Co. arranged the debt. Eric Birnbaum, chief executive officer
 
Thanks to the management Rio Hotel and Casino for its ability to raise $850m to invest in Las Vegas resort project. Rio Hotel management is taking on the advantage of poor hospitality services Las Vegas is known of. By completing the project and rendering 5 star services, it would enjoy vast patronage.
 
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