Although I didn’t stay here when in Vegas, I spent quite a bit of my time in this casino for a convention that I was attending. While there, I did a fair bit of wandering around on my breaks.
Masquerade in the Sky: There are several shows at the Rio including Tony and Tina’s wedding and the Chippendale dancers, but this is the free show. They do seven shows daily ending at 9:30pm. Fifteen minutes before the show starts, performers will run around the casino to drum up interest. The best view of the "parade" is from the balcony on the second floor. Up there, the floats will come within feet of you. The floats come out of a panel in the wall and have performers dancing on them. People can purchase tickets to ride on the floats. They are given robes to wear and a tambourine to shake.
Ibar: The Ibar is in the Ipanema tower of the Rio. Every so often the girls will get up on the tables and dance and the bartenders know how to entertain as well. Watching them mix drinks is almost an act in itself. The drinks are great but expect to spend a minimum of $10. This is the standard price in Vegas.
Sao Paulo: The food is good and you will get a lot for your money. I ordered a Caesar salad. It cost under $10 (at lunch time) and was huge. I ate about half of it and was full for the rest of the day, and I can eat. The lettuce was fresh and the whole thing was delicious. Everyone that was with me loved what they got.

Bamboleo’s: Bamboleo's is on the second level of the Rio overlooking the slot machines. They focus on food from Central and South American, mainly Mexico, Brazil, and Argentina. The atmosphere is very relaxing. The lights are dim and the whole place is painted in earth tones. Although when it is very crowed the atmosphere completely changes.
The margaritas were good. I also had a burrito with refried beans and Spanish rice. It came out to $20. Don’t expect Vegas spectacular here. I’ve had better food at a Cozumel’s or other Mexican restaurants for less money. This place is also freezing. We were sitting next to the rotisserie oven and were shivering. One poor woman on the other side of the room was trying to cover up with napkins. Service is extremely slow. It took us 45 minutes to get our check and it wasn't busy.