Dreamscape Companies said it is “open” to the idea of a Major League Baseball ballpark being built next to its off-Strip resort in Las Vegas, Nevada.

This comes after plans for the Rio Hotel & Casino Las Vegas and investments in similar properties were made public.

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In the same announcement that his company made that it had obtained $850 million in funding, industry veteran Eric Birnbaum, founder of Dreamscape, revealed plans to refurbish the facility and assume responsibility for its day-to-day operations.

The money will be put toward the formation of a real estate investment trust (REIT) that will own properties related to casinos, hospitality, and entertainment, as well as the formation of an entity that will run these types of enterprises.

The Rio will also undergo a “multi-phase makeover” thanks to the funding, that will be used to pay for it. Caesars Entertainment continues to be in charge of the property’s management despite having sold the casino resort to Birnbaum in 2019 for more than $500 million and then leasing it back.

However, Dreamscape is “scheduled to formally take over and oversee operations at the resort in 2023,” according to a statement made public this week by the company.

The Oakland A’s Stadium Next to the Rio Casino?

It is important to note that his planned refurbishment will take place at the same time as the Oakland Athletics of Major League Baseball are taking a close look at various properties in Las Vegas for the purpose of developing a ballpark, including extra land at the Rio.

The Las Vegas Review-Journal had said in the past that the Athletics were seriously thinking about building a ballpark on the site of the Rio.

The Rio Hotel and Casino are situated on 88.5 acres and can be found on Flamingo Road, roughly a mile west of the Strip.

“Dreamscape has been engaged in a dialogue about a portion of the excess land at the Rio as a potential MLB ballpark for the past several years,” a spokesperson for the company told the Review-Journal on Friday. “The company remains open to this idea.”

The Rio Hotel and Casino has more than 2,520 guest rooms and a casino that spans more than 117,000 square feet. Birnbaum had previously discussed plans to remodel the Rio in 2021, when he told the source that the “underloved” resort needed a fresh start with “everything from the time you walk in, to the moment you leave.” Birnbaum had previously talked about plans to renovate the Rio in 2021.

However, there are currently very few specifics available regarding how this renovation will take place. The announcement that was made the week before last did not provide any information regarding the amount of money that would be spent by Dreamscape on the Rio update.

Also, the announcement didn’t say anything about how big the job would be or when it would start. The company said it planned to “reimagine the two-tower structure” and turn it into “a superior resort and casino experience with upgraded amenities.” But it was made clear that the Rio would keep running normally while it was being fixed up. 

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