East Coast Gambler

I haven’t noticed this before, but there’s been a rumor that Harrah’s would be selling the Rio to Penn National, who has been looking to get into Las Vegas for a while now.  Last time I read (and wrote) about Penn National was their failed bid for Fontainebleau.

Penn National has been working it’s way towards Las Vegas for years and the Rio would be a healthy start for the company. Although the Rio is not located on the Las Vegas Strip it is considered a Las Vegas Strip property. Penn National has an extensive data base and it is unclear it they will be able to tap into the Harrahs Entertainment’s enormous database as part of the deal.

I think the Rio is a good entry point into Las Vegas for Penn National.  The purchase price should be less expensive then being on the strip, but its location is close enough to be part of the action.  There are also quite a bit to update at the Rio, but it’s not as though the place has to be destroyed.

This gives Harrah’s some extra cash so that it can pay down some of it’s debt when it’s due.  Or they can buy more casinos.

I’m looking forward to seeing some fresh blood in Las Vegas.  Maybe this will give me an excuse to wander on over later this trip.

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The World Series of Poker (WSOP) for 2010 will take place between May 27 and July 17 and once again will be held at the Rio All-Suite Casino & Hotel in Las Vegas.  There will be a few additions to the WSOP this year, including a low-limit buy-in tournament.

…Another first at the WSOP this year, the first 5 weekends of the series will feature $1,000 buy-in No-Limit Hold’em tournaments with two starting flights.  May 29-30, June 5-6, June 12-13, June 19-20 and June 26-27 will offer No-Limit Hold’em players from the weekend warrior to the most advanced player the opportunity to compete in some of the largest fields of the year for huge prize pools and a gold bracelet.  A sixth event on July 1-2, will also offer the same event at the same buy-in level, just days before the Main Event commences.

Visit WSOP’s site for full information

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