LAS VEGAS (AP) — Nevada gambling regulators granted preliminary approval to the new owners of the Rio hotel-casino to operate the off-Strip property.

The Las Vegas Review-Journal reported Friday that the Nevada Gaming Commission's preliminary finding of suitability for executives of Dreamscape Companies LLC sets the owners up to operate the hotel-casino in a few years.

Dreamscape purchased Rio in late 2019 from Caesars Entertainment Inc. for $516.3 million.

The deal calls for Caesars to continue managing the property for several years before Dreamscape takes over as late as Dec. 2023. Dreamscape executives will need to apply for a more through suitability finding when taking over.