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Riviera Sale Vetoed By Shareholders

By Chuckmonster on Thursday, 31st August 2006 12:55am
  » filed under Las Vegas  comments: 0

   

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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