CAESARS ENTERTAINMENT SELLS RIO BUT RENTS IT BACK TO HOST WSOP
- The Rio opened just in time for the finale of the 2020 World Series of Poker Main Event. The property has been home to the WSOP since 2005, but this is the first time it has only hosted the final.
- Online Poker with Huge Rewards - 30% - 75% rakeback for every player! 100% First deposit bonus up to €600 - Built-in HUD No Bots Community Focused.
- Poker clubs and rooms in Rio de Janeiro Those who like poker in Rio de Janeiro will find our resource useful as all the info that they might need is gathered in one place. In order to be aware of all the poker events, we keep the list of all operating poker clubs and rooms in Rio de Janeiro and the list of games they host.
After months of speculation, it was announced via news release today that Caesars Entertainment Corp. has sold off the Rio All-Suites Hotel & Casino while at the same time confirming that the 2020 World Series of Poker will continue to be hosted at the venue despite the sale.
The property that sits just west of the Las Vegas Strip has been sold to Impersonal Companies, a New York-based real estate company for $516.3 million in a deal that is subject to approval by regulators. The 2,500-suite hotel and casino opened in 1990 and has played host to the World Series of Poker since 2005 when it moved from its original home, Binion’s Horseshoe on Fremont street.
The sale of the Rio has been in the works for quite some time as Caesars itself is in the process of being acquired by Eldorado Resorts for $17.3 billion. During an earnings call in June, Eldorado CEO Thomas Reeg said that one or two properties were likely to be sold off as part of their deal and said he hoped to close on those deals by the first quarter of 2020.
The World Series of Poker will start its Main Event virtually this month before moving to an in-person final table in Las Vegas. Caesars Entertainment announced the hybrid plan for 2020's no-limit.
About the sale and the implications for the World Series of Poker, Tony Rodio, CEO of Caesars Entertainment, said: “The retention of the World Series of Poker and retention of Caesars Rewards customers are all factors that make this a valuable transaction for Caesars.”
Rio Poker Site
For at least the next two years, Caesars will rent the Rio at a cost of $45 million per year, indicating that the WSOP will remain in its current home for at least two more years and a $52 million option for the third year of control.
Beyond 2022, it looks as though the rumors of a potential new destination for poker’s biggest festival will continue to swirl. In an interview with Cardplayer, WSOP Vice President of Corporate Communications Seth Palansky pointed out that finding a new home for the 62-day event every summer will be a daunting task and that the Rio is a logical place to host the series while other locations on the Strip, including the new convention center at The Linq, might not be as appealing as the rumors want to suggest.
Qualify to win entry into the 2020 WSOP Main Event
The National League of Poker (NLOP) has announced it will be sending a total of 18 players to the World Series of Poker in 2020. Qualifiers are playing now at NLOP.
Play in qualifiers now!
$10,000 Summer Splash Has Finished
Congrats to NLOP poker player Tinkermaker on taking first place in the $10,000 Summer Splash! See the winners of the $10,000 Summer Splash online poker series here.
Original Article by PokerCentral.com.
Comments
Rio Poker Tournament 2019
Run It Once
comments