Rio Rumor Mill: Las Vegas Casino Could Be Demolished, Possible Future Site of MLB Ballpark
Posted on: October 8, 2018, 01:00h.
Last updated on: October 11, 2018, 01:38h.
The Rio All-Suite Hotel and Casino rumor mill is once again churning, and the latest gossip is that the off-Strip property is headed for demolition to make way for a Major League Baseball (MLB) ballpark.
The latest comes with Vital Vegas, which comes from ear-to-the-ground blogger Scott Roeben. In August, the media site relayed rumors that Caesars Entertainment was actively shopping the casino resort.
This week, Roeben upped the ante “with another juicy tidbit: As we’ve shared, could very well be a land play. New rumor suggests Rio could be demolished, site to be developed as (wait for it) Major League Baseball ballpark.”
Las Vegas welcomed its first major professional sports franchise by way of the NHL Golden Knights for the 2017-18 hockey season. The NFL Oakland Raiders are slated to kick off in Sin City in the fall of 2020.
With two of the four “big four” pro leagues in Las Vegas, there’s been plenty of speculation that the NBA and MLB will join in on the Sin City fun as well.
If You Build It
Station Casinos parent Red Rock Resorts purchased the Palms in 2016 for $312.5 million. The casino resort, which sits just west of the Rio, was originally scheduled to undergo a $350 million renovation. That price has since ballooned to $620 million.
Roeben speculates that the Fertittas, the billionaires who own a majority stake in Station Casinos, might know something the rest of us don’t.
“There’s been a spike in investor interest in parcels around Rio. The speculation part: If an MLB ballpark plan is in the works, it’s an ‘Aha’ moment for why Stations has invested so much in Palms when it can’t possibly recoup the investment—unless they know something we don’t,” a Vital Vegas tweet read on Monday.
Like the $1.8 billion NFL stadium being built just west of I-15 between Hacienda Avenue and Russell Road, an MLB ballpark in Las Vegas would need to be a domed facility due to the Southern Nevada desert heat.
The plot of land the Rio sits would be more than capable of becoming an MLB site. The roughly 100 acres is nearly 40 more than the acreage where the Raiders stadium is being built.
Sports Epicenter
Las Vegas was shunned by the NFL, MLB, NBA, and NHL for decades due to the city’s widespread sports betting, but with the federal ban now repealed and some sort of gambling found in nearly every state in America, that attitude is quickly changing.
MGM Resorts CEO Jim Murren, whose company has a 50 percent stake in T-Mobile Arena, hopes to bring the town an NBA team. MGM already owns the WNBA’s Las Vegas Aces.
“I would think it would be highly plausible that an NBA team would like to relocate to what’s becoming one of the sports capitals of the US,” Murren declared in August after MGM reached a partnership deal with the NBA. “I frankly think it will happen. It’s a pretty fun place to watch sports.”
Related News Articles
Most Popular
Sphere Threat Prompts Dolan to End Oak View Agreement
This Pizza & Wings Costs $653 at Allegiant VIP Box in Vegas!
MGM Springfield Casino Evacuated Following Weekend Blaze
IGT Discloses Cybersecurity Incident, Financial Impact Not Clear
Most Commented
-
VEGAS MYTHS RE-BUSTED: Casinos Pump in Extra Oxygen
— November 15, 2024 — 4 Comments -
VEGAS MYTHS RE-BUSTED: The Final Resting Place of Whiskey Pete
— October 25, 2024 — 3 Comments -
Chukchansi Gold Casino Hit with Protests Against Disenrollment
— October 21, 2024 — 3 Comments
Most Read
Atlantic City Casinos Experience Haunting October as Gaming Win Falls 8.5%
Fertitta Unlikely to Pursue Wynn Takeover, Says Analyst
Last Comments ( 23 )
It looks like a done deal. Caesar's in financial trouble and unloading a non-performing casino like the Rio will capitalize them and also take an expensive to maintain casino off their books. The idea of turning Las Vegas into a sports town is starting to take shape. Professional hockey, now professional football. A professional basketball team and now an expansion professional baseball team. Then, to cap it off, Las Vegas will bring in a professional soccer team to make itself attractive to the international fans.
What about the area between M casino and the strip? Lots of vacant area.
Wonder where the WSOP would go?
There is no reason to tear down the Rio to build a stadium....I have no problem with an MLB stadium in Vegas, but there's PLENTY of land available, without tearing a casino (especially one nice one like the Rio!)....If they were to take the Rio down, I'd go out of my way to not support the venue, and hopefully everyone I know as well!
More of the plan of killing off gaming for major leage sports. Its been the plan ever since certain people have taken office. The end goal is to end all legal gambling in Nevada (long term) and turn it into some kind of miserable sports mecca. Sad to see it working.
Las Vegas always likes to push the envelope when it comes to sensible projections. They’ve built resorts when “experts” have advised against it. But extra hotel rooms and casinos are not the same as heavy support for a major sports franchise. When the minor league team averages less than 5,000 per game, it’s a big jump to fill a major league park. They expect to sell out the Raider games next year and beyond. Selling out a baseball season soon afterward seems a little wild on the speculation. Maybe see how the NFL works out for a couple years first. 8 regular season games on mostly weekends is one thing, but 80+ games of baseball with so many other teams within a 4-5 hour drive is different. I always hope for the best for Las Vegas, but I’m a little worried about this.
In order for our City to be a City, we need all sports. This is only going to help our economy in other areas, Real Estate, Industry. This brings more jobs. We cant just rely on Gambling.
I hope they don't do it, they cant even finish a damn road, whose to say they don't start this and keep it in the air for a long time and still never finish the spaghetti bowl. I have been going to the Rio for over a decade, I love the atmosphere and the Rio buffet is one of the best in town. There is plenty of desert on the outskirts of town just build it there and maybe they will come.....lol.
Great Idea. Even if its a different location. But Rio idnt mind if they knocked it down. It aint doing well. Bring the kiss golf to a better place
No! I love the Rio! Ppl go to Vegas to gamble, party, have a different kind of fun— not go to a baseball game!
I think it would be great so that way I can capitalize on both arenas @JandRSocialEnt it makes sense
WOW SPORTS CAPITAL OF THE WORLD ENTERTAINMENT CAPITAL OF THE WORLD RESTAURANT CAPITAL WORLD INTERNATIONAL CITY OF THE WORLD INTERNATIONAL AIRPORT BOULDER DAM LAKE MEAD MT CHARLESTON REDROCK. WORLD CLASS CASINOS AND ACCOMANDATIONS WORLD CLASS EVENTS EX RODEOS MOTOR SPEEDWAY WORLD CLASS CONVENTIONS WORLD CLASS EMPLOYEES TO GIVE THAT TOURISTS EXPERIENCE EXCEPTIONAL
What about the minor league stadium built as a gift for Summa? Mostly paid for with the most expensive naming rights in all minor league baseball by the Convention Authority, which receives it's money from our taxes. I support bringing an MLB franchise to Vegas. I even support room taxes paying for the Raiders' stadium. But the naming deal for the minor league stadium reeks of insider corruption. The Raiders will bring in tourists, but few people travel to see a minor league baseball team and there is no great public benefit to the stadium.
Absolutely horrific idea, this is home to the Las Vegas Star Trek Annual Convention. I hate the idea of it not being there. Build the stadium somewhere else!!!!
I really hope this doesn't happen. Sure, the arena worked out, but that's an indoor arena for short exiting hockey games. Every hour they're watching a crummy baseball game, they're not in your casinos and restaurants. Simple economics.