Riviera Holdings Corporation is a casino

Casino

In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...

 operator based in Winchester

Winchester, Nevada

Winchester is a census-designated place in Clark County, Nevada, United States that contains part of the Las Vegas Strip. It is one of a number of CDPs in the unincorporated urbanized area directly south of Las Vegas. The population was 26,958 at the 2000 census. It is governed by the Clark County...

, Nevada

Nevada

Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...

. It owns two casinos, the Riviera

Riviera (hotel and casino)

The Riviera is a hotel and casino located on the Las Vegas Strip in Winchester, Nevada. The hotel has over 2,100 rooms, many located in a 23-story tower. The casino has of gaming space.-History:...

 on the Las Vegas Strip

Las Vegas Strip

The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...

, and the Riviera Black Hawk in Black Hawk, Colorado

Black Hawk, Colorado

The historic City of Black Hawk is a Home Rule Municipality located in Gilpin County, Colorado, United States. The city population was 118 at U.S. Census 2000, making Black Hawk the least populous city in Colorado...

.

History

Riviera opened its second casino, in Black Hawk, Colorado, in February 2000.

As of October, 2005 the company had $200 million in annual revenues and 1,600 employees.

On April 6, 2006 Riviera Acquisition Holdings announced a $427 million buy out offer that has been accepted. The offer included cash and assumption of existing debt. But on August 29, shareholders rejected the offer, after an acquisition company affiliated with BT Holdings LLC of Boston, Massachusetts made an offer of $20 a share. http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyID=2006-08-29T221111Z_01_WEN4674_RTRUKOC_0_US-LEISURE-RIVIERA.xml&archived=False

Facing losses from the recession, Riviera began defaulting on its debt in February 2009. In July 2010, Riviera filed for Chapter 11 bankruptcy protection, listing $275 million in debt. A reorganization plan led by Starwood Capital Group

Starwood Capital Group

Starwood Capital Group is a private investment firm headquartered in Greenwich, Connecticut. The businesses owned by the firm include Starwood Property Trust, Inc., Starwood Energy Group Global, L.L.C., Starwood Real Estate Securities, L.L.C., and SH Group....

 enabled the Riviera properties to remain open for business. Starwood emerged with a 75% stake in Riviera, with another 21% held by Derek Stevens, owner of the Golden Gate

Golden Gate Hotel and Casino

The Golden Gate Hotel & Casino is located at One Fremont Street in Las Vegas, Nevada, in the United States. A part of the Fremont Street Experience, it is the oldest and smallest hotel on the Fremont Street Experience.-History:...

 casino.

In September 2011, Riviera agreed to sell its Black Hawk casino for $76 million to Monarch Casino & Resort, owner of the Atlantis Casino Resort

Atlantis Casino Resort

Atlantis Casino Resort Spa is a hotel and casino in Reno, Nevada. The property is currently owned by Monarch Casino Resort Inc . The three hotel towers have combined 1,000 guest rooms and Jacuzzi suites. The casino floor spans 67,000 sq ft and is one of Reno's most profitable and luxurious...

 in Reno

Reno, Nevada

Reno is the county seat of Washoe County, Nevada, United States. The city has a population of about 220,500 and is the most populous Nevada city outside of the Las Vegas metropolitan area...

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