Official: Riviera to be sold to LVCVA

I actually like the Riv, it will be interesting to see if this official announcement happens or not. Seems like that's a ton of money to pay to expand the convention center. I wonder how long it will take to shut down if/when this does happen. I'm rolling the dice and just booked here on one of the mailers they sent me for the tournament, Might as well stay here before its gone!

 

last saturday night my sister won the free daily slot tourney at the riv an won $1,000 in free play! they put it right on her players club card. She turned it into $616 in real money.

another cool thing at the riv is the cashier is also the players club desk so it's easy to get a new card made or questions answered.

like auggie said, rumors of the riv's death have been circling for a long time, i sure hope the convention center doesnt buy it, but now they have been revealed as the likely buyer, the rumor does make more sense.

 

Looks like the source of the rumors is Robin Leach. He's not exactly reliable when it comes to these things, but it does sound feasible.

http://www.lasvegassun.com/vegasdeluxe/2015/feb/09/riviera-changes-mayweather-pacquiao-fight-star-che/

 

Hmmm..........Riviera being imploded and Convention Center expanding. Could it be the new location of a future NHL team? Hollywood Park will be imploded to make room for THE LOS ANGELES RAMS.....he he.
But if Riviera does go down (i certainly hope not, but it doesn't look that way), how will Sam SLS respond? How will the Resorts World owners respond?
How will this go down in Vegas? Will this help the struggling North Strip.........or hinder the North Strip in getting more people to walk up there?
The reason why the North Strip is struggling IMO, is that there are long distances (relatively speaking), to walk for entertainment and gambling (unlike before when the North Strip was King).
With the expanded Convention Center, why would tourists go there?

 

NHL team will play in Arena being built by MGM behind Monte Carlo / New York New York


And yeah, I still don't understand why the SLS opened on that side of the strip. I understand that it's a busy intersection, but from what I've seen with my own eyes and heard from others, nobody is stopping...

 

From LasVegasAdvisor

• February 12, 2015 11:33 Surprise Buyer for the Riv?: We have heard from a reliable, but unofficial source, that the Riviera is to be sold to an unlikely buyer, namely the Las Vegas Convention and Visitors Authority, which plans to raze the oldest extant hotel-casino on the Strip and use the land to expand the Convention Center footprint directly out to Las Vegas Boulevard, as part of its ongoing $2.3 billion expansion into the Las Vegas Global Business District. We wondered how they were going to double the facility's square footage; perhaps we now know! We are awaiting a promised official confirmation or denial of this rumor, so stay tuned for an update.

If this is indeed the plan, it makes sense, and likely will come as good news to the owners of the Mardi Gras and the former Clarion site, who are both hoping to capitalize on their proximity to the Convention Center and will no doubt be happy to see some of the significant hotel competition in the area wiped out.

 

Even though Vegas already has a whole lot of hotel rooms, I would think that a major expansion of facilities to draw bigger and more conventions to town would lead to more rooms being built near the convention area just so more people could stay nearby. The owner of the Clarion that was just imploded indicated that he wants to build a tall hotel tower, and hopefully this news helps speed up the start of Resorts World.

 

I know that CJ, just wanted to plug that the Rams are coming back to LA......i feel so ashamed...............NOT...LOL.
I will be the first in line to get my season's ticket's to the LA Rams, either at the Rose Bowl or Coliseum, and then the old Hollywood Park.

 

Love to see an implosion!

KEEP ME POSTED!!!!

 

I wonder how this will impact Carl Inchan's decision with the Fontainebleau? That would be another nice property to fill in the space on the north end of the strip.

 

Actually just booked to wtay in riveira next month about 30 minutes ago. I really hope they do stick around. Have loved the riv for years. Riviera just needs to renovate the entire casino floor and add a nightclub like the westgate is gonna do.

 

In the LV Sun Kats says he hears it might close as early as May, with the implosion during the summer. But of course nothing official.

 

Count me in as another disappointed fan of "old school". My hubby only does craps and sportsbook gambling, but we'd go to the Riviera so he could play pinball while I played the slots LOL I wonder if they'll do an auction of all the memorabilia like they did with the Sahara? I'd love the Crazy Girls statue

 

Ah its always amazing how when there is word one of these places will be torn down that everybody misses them, that its such a shame another part of old Vegas is going, etc, etc, etc - but nobody actually ever goes to them when they are open.

 

When did you last visit? There is no accounting for taste, but the Riviera is far from a dump. I have stayed there twice and would do so again if on a budget. If it's still standing in September, I may stay there a third time for an upcoming trade show at the Convention center.

I will be sad to see it go, but I have read that two loans are technically due and its lenders have forbearance agreements with ownership. It still loses money each quarter, but these have narrowed in 2014 and revenue is up. They have not reported earnings for the 4th quarter 2014. Looking at a map of the convention center and its current desire to expand makes sense to do it on the Riviera property. I'm sure Carl Ichan will be one happy guy if this goes through.

 

I stopped in Riviera just about every trip to Vegas

 

This thread makes me sad.....With the Sahara now gone, the Riv was my sentimental favorite and the oldest standing hotel we have stayed at in Vegas.

The wife and I usually pop up there every 2nd trip or so to eat at Kady's and take a walk around the property...not that we would stay there again, but I'd be super sad to see it go!

 

When did you last visit? There is no accounting for taste, but the Riviera is far from a dump. I have stayed there twice and would do so again if on a budget. If it's still standing in September, I may stay there a third time for an upcoming trade show at the Convention center.

I will be sad to see it go, but I have read that two loans are technically due and its lenders have forbearance agreements with ownership. It still loses money each quarter, but these have narrowed in 2014 and revenue is up. They have not reported earnings for the 4th quarter 2014. Looking at a map of the convention center and its current desire to expand makes sense to do it on the Riviera property. I'm sure Carl Ichan will be one happy guy if this goes through.

 

Not to be a negative Nelly but turning $1K into $600 means she was either very unlucky or they have horrible payouts. 40% hold?
And the worse thing about the Riv is that their players club desk is at the cage. I had a bad TITO from a VP machine and I stood inline for 20 mins, with just 3 people in front of me, to get my cash since each of them was asking questions and getting their info pulled for a new card.

 

I was at Sahara for its last day on earth and no one really seemed to care then either. I summed it up as thus "While it was too shitty for me to actually stay and play there, I like the fact that it was around!"

https://sites.google.com/site/lvgrid/things-i-want-to-see