I've been puzzled about Rio's recent performance too. It is certainly a nice property. However, the slots aren't set to attract locals (vs. Gold Coast) and it now has competition ON the strip for the Gen-X crowd (at Mandalay Bay), plus the younger action at Hard Rock. The 8-hour/day closing of the high roller area may mean that they aren't attracting enough big players on a consistent basis.

The younger crowd spends alot at the Rio's night club and lounge, but that doesn't equate to the casino floor drop from an equivalent number of baby boomers and older. Still some fine tuning to do at Rio, IMO. I think the Palms may have a better formula re attracting a mix of locals/strip tourists/younger players. And if so, the Rio's performance may be flat or worse in the months following the Palm's opening.

I like the Rio though, and hope they do find a winning formula.