In February 2023, Dreamscape Companies announced the completion of a capital raise of $850 million that would be used to finance the renovation of its Rio Hotel & Casino property as well as to launch a new gaming and entertainment platform.

On Thursday, a statement from the off-Strip property conveyed the layoff of a number of employees that has not been revealed.

The New York-based company that describes itself as “stewards of capital and creativity” originally purchased the Rio property from Caesars in 2019.

In May 2023, the company announced the appointment of a new executive team which included several high-profile casino and hospitality veterans. 

“Better Understanding of Staffing Levels” 

The statement spoke about the way they “proactively expanded” their workforce while taking over operations from Caesars Entertainment in the fourth quarter of 2023.  

Gradually, as the “extensive construction and remodeling” was taking place at the venue, Rio reached “a better understanding of the staffing levels” needed to offer “guest service and operational efficiency.”

As of late Thursday, Dreamscape had not filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the Nevada Department of Employment, Training and Rehabilitation.

“We deeply appreciate the unwavering commitment and diligence of all our team members and extend our heartfelt gratitude to those directly affected by the adjustments,” further read the statement. 

This February, The Rio faced a strike as one of the last resorts to give the green light to a new Culinary Union contract.

Last November, Dreamscape announced it was looking to fill in more than 100 job openings in its new Canteen Food Hall, which replaced the popular Rio Carnival World Buffet. 

The new food hall officially opened on January 19.

A year ago, the company also announced its intention to renovate 1,427 rooms in the Ipanema Tower at the same resort.

At the moment, Dreamscape is getting ready to “soon offer an entirely refreshed suite of dynamic and broader programming” to next-gen clientele traveling to Sin City in search of “something different, something deeper, something unexpected and something seamless.”

Surprising Decision 

Dreamscape’s decision to lay off personnel comes as a surprise in Las Vegas’ market where no major casino operator announced any significant personnel cuts in 2024. 

On the contrary, gaming companies had to deal with staffing shortages in the last few years, which convinced some of them to increase wages and starting pay to attract more applicants.

The only WARN notice filed by a gaming operator in the state of Nevada this current year was that of the Mirage. 

The property had to be temporarily shut down for new construction.

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