After months, even years of rumours, Dreamscape Companies have purchased the Rio All-Suite Hotel & Casino in a deal that reached $516 million over the weekend.

The venue of the World Series of Poker for well over a decade, ‘The Rio’ as it’s more commonly known may be freezing during the summer of poker action, but the heat of that action has kept it in the headlines for all the right reasons too. Like it or not, the venue has become the home of the WSOP and is symbolic with the legendary poker festival.

With 2,500 suites, the Rio remains an iconic building in the Las Vegas skyline as it is. Central to poker’s plans in the country, news came out earlier in the year confirming that the venue would be the location of the 2020 WSOP with the 2021 World Series also highly likely to be in the same place too.

While Caesars will continue to operate the building for the next two years – tying off those two years neatly – they’ll also have the option to do so for a final year in 2022, with Dreamscape’s own team taking over thereafter. While Caesars will pay a yearly rent of $45 million, that cost is likely to be offset by the huge revenue that the WSOP and other events bring the site.