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Riviera Sale Vetoed By Shareholders
The lowball bid for the aging Riviera Hotel & Casino by Riviera Holdings Corp. was vetoed by shareholders today. The $426 million dollar buyout offer has been the subject of stockholder anger since the takeover was announced earlier this year.
The Riviera will continue to operate as-is for the forseeable future. Gaming industry rumor mill has numerous companies standing in the lurch to snap up the 25 acre parcel on the north end of the strip.
We think they should just blow the dump up and walk away - save the neon signage though. That's why we don't own a casino in Vegas.

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