The Rio All Suite Hotel and Casino opened on January 15, 1990, also known as the Rio, as a locals casino. When the hotel orginally open it only had one wing of the Ipanema Tower . This is an off Strip property located on West Flamingo across the street from the Gold Coast. A 20-story expansion wing was added to the Ipanema Tower in 1993. The Masquerade Village, a hotel tower and casino expansion (large rounded tower) including the Masquerade Show in the Sky, opened in 1997, at a cost of over $200 million. The Rio was purchased by Harrah’s Entertainment in 1999 for $888 million.
The Rio’s Penn & Teller Theater was the host venue of the 30th Anniversary Special for the hit CBS game show The Price Is Right and has been used for “Live! With Regis and Kelly,” “Hell’s Kitchen” and numerous Penn & Teller television projects. The hotel hosted the World Series of Poker in 2005 and since has been the home for the tournament that used to be hosted by Binion’s.
The Rio and is owned and operated by Caesars Entertainment Inc. The Rio was the first all suite resort in the Las Vegas area. It was named after the city of Rio de Janeiro, and is influenced by Brazilian culture.