Ron Burkle[1], who owns the Soho House international chain of private clubs, has his eye on Las Vegas.
The California billionaire — spotted at the Super Bowl next to his old friend Gisele Bündchen — is said to be talking to Caesars Entertainment about buying the Rio All-Suite Hotel & Casino.
Caesars owns more than 50 casinos, but its casino operating unit filed for Chapter 11 in 2015, and the Rio property is said to be in need of refurbishment.
Burkle, whose Yucaipa Companies specializes in underperforming assets, would put Scott Sibella, who recently left the MGM Grand, in charge of the Rio, one source said.
Sibella starred in a 2011 episode of “Undercover Boss” where he bungled a blackjack deal, and spun a ball out of a roulette wheel, among other blunders.
References
- ^ Ron Burkle (pagesix.com)