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
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…