Dreamscape Companies, which owns the property assets of the Rio Hotel & Casino Las Vegas, has raised $850 million in capital. That paves the way for the real estate developer to broaden its footprint in the gaming industry.
The New York-based real estate firm said the cash will be used to create Dreamscape Entertainment Properties, Inc. and Dreamscape Entertainment Integrated Resorts, Inc. The former will be an experiential real estate investment trust (REIT) owning gaming, hospitality, and entertainment assets, while the latter will be an operator of such venues.
These new, independent Dreamscape platforms will focus on investing and operating in strategically located, high-barrier-to-entry markets with asymmetric growth potential,” according to a statement.
The New York-based real estate firm said the cash will be used to create Dreamscape Entertainment Properties, Inc. and Dreamscape Entertainment Integrated Resorts, Inc. The former will be an experiential real estate investment trust (REIT) owning gaming, hospitality, and entertainment assets, while the latter will be an operator of such venues.
These new, independent Dreamscape platforms will focus on investing and operating in strategically located, high-barrier-to-entry markets with asymmetric growth potential,” according to a statement.