Riviera Files For Chapter 11; Starwood Takes Over
Posted on
July 14, 2010 by
Marc
To no surprise the Riviera (hotel and owners) filed for chapter 11 bankruptcy reorganization yesterday.
…because this is a Chapter 11 filing backed by the key creditors, it’s likely the Riviera Las Vegas and the Riviera Black Hawk will operate normally through the bankrupty process.
This is backed by the bulk of the companies creditors, so don’t expect Riviera to go away too quickly. Hopefully this reorganization includes renovations and cleaning up of one of the last remaining casinos from the old strip. Sometimes I’m nostalgic.
Photo: Las Vegas Sun
Update: It seems as if Starwood will be taking over the Riviera. Vegas Tripping has the quick and dirty.
