Leadership and Ownership Shakeups Underway at Rio Hotel and Casino

^{The Rio Hotel & Casino in Las Vegas is entering a new era under new ownership and management team. (Photo: Douglas Peebles Photography / Alamy)}

The Rio Hotel and Casino in Las Vegas is undergoing a major leadership overhaul, with a new majority owner, a new general manager, and an almost entirely new executive team within a matter of weeks. 

The changes were confirmed in a press release last Monday, and represent the most significant shift at the off-Strip property since Dreamscape Companies purchased it from Caesars Entertainment in 2019 for $516.3 million.

New Ownership and Leadership Takes the Reins

According to a report from Vital Vegas, the Rio’s new majority owner is now private credit firm Kennedy Lewis Investment Management, which reduces Dreamscape's stake to a minority position. Longtime casino executive Bill McBeath, who had previously held a minority stake, has also exited the ownership group following Kennedy Lewis’s buyout.

Dreamscape has been leading the property through its multi-million dollar renovation over the last few years. With a new majority owner taking over, the property’s long-term investment and improvement vision could change, though nothing has been officially announced.

Among the major changes to Rio’s leadership is the addition of Rod Turlan, a veteran casino executive who spent decades of his career at Eldorado Resorts before its acquisition by Caesars in 2020. He will oversee the company's operations, growth, and long-term strategy.

“Rio is in an exciting new chapter, and I’m honored to lead the team during this period of significant growth,” said Turlan in a press release. “With the unwavering support of ownership and a strong foundation that includes newly remodeled suites, a refreshed casino floor, and top-tier entertainment, Rio delivers a fresh and compelling experience for today’s Las Vegas visitor.”

Notably absent from Monday's announcement was any mention of Patrick Miller, who has served as the Rio's president and CEO since January 2024 and has been the public face of the property's transformation. Industry sources familiar with the matter confirmed to Casinos.com directly that Miller is no longer with the property.

Several Senior Executives Also Exit

Turlan's appointment in place of Miller coincides with several other executive changes. Among those departing are Christopher Balaban, the former CFO, and Laurae Clifford, the former VP of global sales. The former VP of marketing, Michelle Engstrom, is no longer with the property as well.

Monday’s press release confirmed their replacements, which will be:

• Lori Ware, Chief Financial Officer (former CFO at Jamul Casino Resort in California)
• Ashley Lowe, Senior Vice President of Sales (former VP of sales at M Resort)
• Vince Lentini, Senior Vice President of Marketing (former VP of casino marketing at Margaritaville at Sea)

Eric Birnbaum, CEO of Dreamscape Retail & Entertainment, expressed confidence in the new executive team under Turlan’s leadership. 

"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.

Whether the property actually lives up to that billing will depend in part on how aggressively the new ownership group continues the renovation work that Dreamscape started.

What This Means for Rio Guests

For visitors to the Rio, the experience is unlikely to change overnight as a result of these changes up top. The property is operational as normal with the casino floor, pool, Penn & Teller residency, and other amenities continuing to operate as usual. 

But the long-term picture is a little less certain. The Rio's $350 million renovation was completed in 2024, adding new restaurants and upgrades to the casino floor. However, there are still some areas on the property that need love, like the food court or the Masquerade Tower, that many local visitors say look clearly dated. It is unclear whether the new management will still prioritize these to keep the Rio up to par with nearby casino properties.

The property also operates in a competitive off-Strip corridor. The Gold Coast Hotel and Casino sits directly across from the Rio, and the Palms Casino Resort is within walking distance up Flamingo Road. All three cater to the same mix of locals wanting to avoid the Strip and value-conscious tourists who are willing to venture off the Strip.

Casinos.com will continue to monitor any notable changes at the Rio in the months ahead under the new leadership direction.