Dreamscape Companies, which purchased the Rio Hotel & Casino in Las Vegas in 2019, has appointed a new executive team to man the property. The list of new appointees includes several high-profile casino & hospitality veterans that will make sure to maintain the property’s popularity and renown.

The new hires include the following:

• Trevor Scherrer – president of gaming and entertainment
• Janice Fitzpatrick – chief financial officer
• Tom Evans – chief marketing officer
• Kevin Sweet – chief gaming officer
• Don Purdue – VP of development & construction services

The new leadership will be responsible for overseeing the famous property’s finance, marketing, operations and redevelopment. As announced, the new team will officially take over the property in October 2023.

Eric Birnbaum, Dreamscape’s founder, welcomed the new hires on board, saying that he is sure they will help the company restore Rio’s old glory. He praised the appointees as experienced leaders who have extensive experience in Las Vegas casino & hospitality operations.

About the New Members

Each of the new leaders has the necessary background and skill to help Dreamscape turn Rio into a premier Vegas destination. Trevor Scherrer, Rio Hotel & Casino’s new president of gaming and entertainment, for example, is a distinguished Las Vegas veteran with over 30 years of experience in the local market.

Some of Scherrer’s past occupations saw him work in executive positions at properties such as MGM Grand, The Mirage, New York New York Hotel and Casino and, most recently, Resorts World Las Vegas.

Janice Fitzpatrick, meanwhile, boasts over four decades of experience in gaming and hospitality finance. The experience she accumulated with companies such as MGM Resorts International, Station Casinos and The Venetian made her a perfect pick for Rio’s new CFO.

Tom Evans, Rio’s new chief marketing officer, on the other hand, is another person with around three decades of experience in his field. He has worked in PR, marketing and advertising-related positions at more than 10 hotels and casinos in the United States. Some of his experiences included stints with Bellagio, ARIA, CityCenter and The Cosmopolitan of Las Vegas, among others.

Kevin Sweet, who will step in as Rio’s chief gaming officer, has 15+ years of experience in luxury gaming. He will leverage that experience in his role, helping the company cater to the needs of its gambling customers. Sweet previously worked as the VP of slot operations and marketing at The Cosmopolitan of Las Vegas.

Finally, Don Purdue, Rio Hotel & Casino’s new VP of development & construction services, brings 35 years of experience in construction and land development. His track record includes tenures at several Fortune 500 companies, making him a perfect fit for Rio. Purdue’s prior experiences saw him develop various communities and golf courses. He is another former The Cosmopolitan worker, having served as its VP of development since 2017.

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The New York-based real estate development and investment firm confirmed Wednesday it completed an $850 million capital raise. Raymond James led the equity private raise for the capital placement while Wells Fargo was in charge of managing the funding. Thanks to the capital raise, Dreamscape will finance a multi-phase renovation of its iconic Rio Hotel & Casino Las Vegas property.

This was Dreamscape’s first gaming property which the company acquired from Caesars Entertainment back in 2019. Famous as the first all-suite hotel to open in Las Vegas back in 1990, Rio Hotel & Casino holds a leadership position within the rich history of the gambling capital of the world.

Dreamscape confirmed it will modernize the two-tower venue and bring new amenities for the guests of the venue. At the same time, the company confirmed it plans to preserve the location’s rich legacy while ensuring supreme experiences for the visitors. It’s important to mention that the property will not be closed during the renovation.

Besides the renovation, the capital raise will contribute toward the launch of two new Dreamscape platforms. Those are Dreamscape Entertainment Integrated Resorts, a company operating hospitality, gaming and entertainment assets, as well as Dreamscape platforms: Dreamscape Entertainment Properties, described as “an experiential real estate investment trust that will own gaming, hospitality and entertainment assets.”

The Company Plans to Expand Further

Duane Bouligny, Wells Fargo Corporate and Investment Bank’s managing director, explained that last year was incredibly challenging for real estate and gaming developments. Still, he outlined: “Amidst this challenging economic environment, we are pleased to have successfully led the debt capital raise for Dreamscape as the company launches its new gaming and entertainment platforms, renovates its first gaming property, and continues to diversify and scale.”

“As Dreamscape continues to evolve and expand, we knew the gaming and entertainment sector would be a natural fit and become a central part of our business.“

Eric Birnbaum, CEO and founder of Dreamscape

Eric Birnbaum, Dreamscape’s CEO and founder, explained that on its path to further growth, the company identified the entertainment and gaming vertical as the perfect sector. He pointed out that Dreamscape is excited about delivering “dynamic lifestyle experiences.” Finally, Birnbaum predicted that the company will continue to grow and differentiate itself as a leading operator within the entertainment and gaming vertical.

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