https://www.yogonet.com/internationa...ew-investments
(If a big "X" shows up on the screen, just click on it and the article will appear)
Initially it was planned to make the property a Hyatt and do away with gambling there. Those plans were somewhat abandoned, and instead just one of the towers will be branded Hyatt, and the property will remain as Rio.
Oddly enough, they are hiring Anthony Marnell, who built the original property in 1990, to help supervise the renovations this year.
The plan is to make the Rio a high end property, with somewhat of a jungle theme, but in an understated, classy manner.
I have no idea how they believe this is going to work. Did they learn nothing from the struggles of Resorts World and the former SLS? High-end visitors do not want to stay at a crappy location away from the center strip action. If your hotel isn't located on the strip between Wynn and Mandalay Bay, it's not going to attract people who want to spend big money.
There is a small chance that these plans will not come to fruition, however. The Oakland A's are seriously considering a move to Las Vegas, and one of the possible sites for a new ballpark would be where the Rio currently sits. However, it seems they prefer the site of the Tropicana, and there are other sites proposed as well. Additionally, it is possible the A's will stay in Oakland.
This whole project seems to have fail written all over it.