RELATED | Caesars Entertainment announces merger with Eldorado Resorts The company could continue to manage the property after the lease expires as well. The deal includes a $7 million option for a third year of Caesars management. LAS VEGAS (KSNV) - Caesars Entertainment has sold the Rio All-Suite Hotel and Casino to a real estate investment company for $516.3 million, the company has announced.Ī company controlled by a principal of the firm Imperial Companies will buy the casino-hotel property off the Las Vegas Strip, while Caesars will continue to operate it for at least two years and pay $45 million in annual rent.
