IGT provides Rio Las Vegas casino management technology
International Game Technology (NYSE: IGT ) has been awarded a contract by Dreamscape Companies to provide technology management services for the Rio Hotel & Casino in Las Vegas.
The agreement will take effect in the fourth quarter, when Dreamscape takes over operational control of the venue from Caesars Entertainment. London-based IGT will provide Rio with its IGT Advantage system, and Dreamscape will also use IGT's M5 content delivery solution to deliver bonuses on Lucky Coin and Random Riches slots.
IGT Advantage with M5 solutions and various bonus and service applications will play an integral role in Rio Hotel & Casino delivering a superior player experience and advancing our gaming lobby and loyalty programs. "Rio Hotel & Casino chief gaming director Kevin Sweet said in a statement to officials.
Financial terms of the agreement were not disclosed. Dreamscape owns real estate assets in Rio. Caesars Entertainment Inc. (NASDAQ: CZR ) continues to operate the venue after the two companies entered into a $516.3 million sale-leaseback agreement in December 2019.
More Rio Plans
Separately, Dreamscape has announced an architecture and design partner for Rio and plans for a major renovation of the aging venue. Fettle, Gianpiero Gaglione Interior Design (GGID), Lifescapes International and Marnell Architecture will lead the renovations.
"With Dreamscape scheduled to be fully operational in the fourth quarter of this year, the resort's multi-year transformation includes an overhaul of 2,500 all-suite guest rooms; 150,000 square feet of casino floor; 220,000 square feet of meeting and convention space;" a statement said. Five acres of luxurious poolside facilities and general relaxation areas designed with a variety of new first-to-market food and beverage concepts. "
Interestingly, Manel is the original owner and operator of Rio. In addition, the company has been involved in major projects on the Las Vegas Strip, including the Bellagio, the Cosmopolitan renovation and the expansion of meeting space at the Aria and Caesars Palace. Lifescapes International has a solid gaming resume of its own.
“Lifescapes has created unique, cutting-edge landscape designs for numerous notable projects, including Wynn Hotels and Encore Las Vegas, Bellagio Hotel and Casino, Mirage Hotel, Pendrix West Hollywood Hotel and Residences, Four Seasons Hotel Macau , Fontainebleau Hotel Miami Beach, etc.,” the statement said.
Dreamscape dedicated to Rio
Earlier this year, New York-based Dreamscape raised $850 million in funding, some of which will be used to rebuild Rio de Janeiro.
To preserve the hotel’s foundation and respect its legacy, Dreamscape will use the financing to redesign the two-tower structure, transforming it into a first-class resort and casino experience with updated amenities and a host of features that appeal to today’s gaming industry Products and dining consumers. "The hotel will remain open during renovations and the company expects to officially take over and manage operations of the resort in 2023," Dreamscape said in February.
The company added that it could use some of the proceeds to acquire other gaming assets.
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Source: www.casino.org
