Venture Capital/Real Estate: Dreamscape Lands $850M For Gaming And Entertainment Platforms, Revamp Of Rio

The Rio Hotel & Casino Las Vegas was the first gaming property of Dreamscape.

Dreamscape Companies, a real estate development and investment firm founded by Eric Birnbaum, has completed an $850 million capital raise. Wells Fargo (NYSE: WFC) and Raymond James led the debt syndicate and equity private placement, respectively. (CISION PR NEWSWIRE)

The capital raised will be used to launch two independent Dreamscape platforms: Dreamscape Entertainment Properties, Inc and Dreamscape Entertainment Integrated Resorts, Inc. These platforms will focus on investing and operating in strategically located, high-barrier-to-entry markets with asymmetric growth potential.

Dreamscape’s first gaming property, the Rio Hotel & Casino Las Vegas, will also undergo a multi-phase renovation using the financing. The company acquired the property in late 2019 from Caesars Entertainment and will redevelop it into a premiere resort and casino experience with modernized amenities. The property will remain open throughout the renovation and the company will officially take over and manage operations at the resort in 2023.

Eric Birnbaum, CEO and Founder, said the gaming and entertainment sector would become a central part of the business. He believes that with the team’s unique development capabilities, investment acumen, and deep operating expertise, Dreamscape is poised to become a differentiated player within this space.

Duane Bouligny, managing director in Wells Fargo’s Corporate & Investment Bank, said the company was 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.

Steven Loffman, Managing Director at Raymond James, added that Dreamscape was perfectly positioned to continue its current trajectory and achieve its expansion goals. Dreamscape has a broad presence and geographically diverse portfolio, owning and operating assets in Nashville, Miami, New York City, Los Angeles, Phoenix, New Orleans, Charleston, and Philadelphia.

Related Story:  Games Platform Roblox And Cloud Security Developer Lacework Score $500M+ Funding Rounds

Image of Rio Hotel & Casino, Las Vegas: Wikimedia Commons

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
March 31, 2023     Digital Assets, News, Venture Capital

Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance…
FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
March 31, 2023     ESG and Sustainability, FinTech, News

Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in…
Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
March 31, 2023     Latest News, News, Venture Capital

The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life…
Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
March 31, 2023     Artificial Intelligence, News

Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning….