Rio Hotel & Casino Las Vegas Changes Ownership and Appoints New Executive Team

The Rio Hotel & Casino in Las Vegas is undergoing a major transformation. Private credit firm Kennedy Lewis Investment Management has taken majority control of the off-Strip resort, reshuffling its ownership structure.

The change has triggered a leadership overhaul, with several senior executives departing and new appointments made. Dreamscape Companies, which bought the Rio from Caesars Entertainment in 2019, now holds a minority stake.

Kennedy Lewis Takes Majority Control of the Rio, Sidelining Dreamscape

Kennedy Lewis took a controlling stake in the Rio by buying out former minority partner Bill McBeath, a longtime casino executive who no longer holds any ownership interest in the resort. Dreamscape had originally acquired the off-Strip property from Caesars Entertainment in 2019 for $516.3 million. Financial terms of the latest transaction have not been disclosed.

Lloyd Nathan and Pavan Kapur are central to the resort’s direction. Nathan chairs the property’s real estate holding entity, while Kapur, a former Caesars executive, oversees commercial operations. Both are closely involved in operational decisions as the resort navigates its next phase.

Rod Turlan Named President as Leadership Shake-Up Follows Ownership Change

The ownership change has triggered a broad leadership overhaul. Rod Turlan has been appointed president and general manager, replacing outgoing president and CEO Patrick Miller. Turlan brings decades of experience from Caesars Entertainment and will oversee all aspects of resort operations.

Kennedy Lewis’s takeover marks the Rio’s second major ownership change in under a decade, and its most significant leadership reset since leaving the Caesars portfolio.

Lori Ware joins as chief financial officer, having previously held the same role at Jamul Casino Resort. She replaces Christopher Balaban, who has moved to a finance position at Grand Sierra Resort in Reno. Several other senior figures, including marketing head Michelle Engstrom and sales executive Laurae Clifford, have also departed.

New Sales and Marketing Executives Signal Fresh Direction for the Resort

Ashley Lowe has been named senior vice president of sales. She previously served as vice president of sales at M Resort Spa Casino, a Penn Entertainment property. Vince Lentini joins as senior vice president of marketing.

Eric Birnbaum, CEO of Dreamscape Retail & Entertainment, welcomed the appointments. “Rod Turlan, together with these newly hired executives and our existing leadership team, brings the right combination of experience and talent to Rio at this important stage of its transformation,” he said.

Recent restaurant additions at the Rio include Tacos Del Rio, High Steaks Vegas by chef James Trees, and Eggslut, which point to continued investment in the guest experience under the new ownership structure.