It's Official: Prince Sets Up Shop in Vegas

TMZ can now confirm the Internet rumors are true: Prince will be moving into the Rio hotel in Las Vegas.

Prince will play Friday and Saturday nights at 3121, the club formerly known as Club Rio, beginning Nov. 10. Tickets for Prince's shows will run $125. Shows on Wednesday night will feature guest performances by friends of Prince, while Thursday nights will be 3121 Latin Labido Night. Tickets for those two nights will be $31.21.

Instead of the $125 cover, patrons have the option of a special dinner and show package available for $312.10 per person: minimum of two guests; includes dinner at 3121 Jazz Cuisine, VIP tickets to the performance, and one bottle with table service per two guests.

In addition to the new club, a restaurant will open called 3121 Jazz Cuisine featuring a brand-new menu created by Executive Chef Lena Morgan.

A source also tells us that Prince is staying in the Palazzo Suites at the Rio -- the hotel's VIP suites and a favorite of stars like Elton John.

Tickets can be ordered at the Rio Box Office at 702-777-7776, at any Ticketmaster outlet or by visiting www.vegas.com. Tickets will go on sale this week.