To shutter within the next six months
Las Vegas Tourism authority OKs USD 182.5 M purchase of Riviera
2015-02-23
Reading time 30 seg
(US).- The Las Vegas tourism authority’s board of directors unanimously voted to purchase the 60-year-old Riviera on Friday. At a special meeting, the Las Vegas Convention and Visitors Authority board agreed to spend up to USD 182.5 M on the purchase and as much as USD 8.5 M more on related expenses.
The Riviera, which opened in 1955 and is one of the oldest casinos on the Strip, will be demolished to make room for more convention space.
Some concern arose from the board about the jobs that will be lost as a result of the Riviera’s closure, but authority staff said the property’s current operators will help employees find new work.
They stressed that the expansion of the convention center will create many long-term jobs and positively influence the local economy.
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