Riviera May Be Headed for Bankruptcy

LAS VEGAS (AP) - Casino operator Riviera Holdings Corp. says it will miss a roughly $4 million interest payment and may be headed into bankruptcy.

The owner of the Riviera hotel-casino on the Las Vegas Strip and the Riviera Black Hawk in Colorado says it can't make a payment due Monday on its $245 million credit facility.

The company says its accountant has "substantial doubt as to our ability to continue as a going concern."

Riviera Holdings reported a net loss of $12.7 million for the
ourth quarter of 2008, or $1.02 per share. It lost $6.1 million,
or LAS VEGAS (AP) - Casino operator Riviera Holdings Corp. says it
will miss a roughly $4 million interest payment and may be headed
into bankruptcy.

The owner of the Riviera hotel-casino on the Las Vegas Strip and he Riviera Black Hawk in Colorado says it can't make a payment due onday on its $245 million credit facility.

The company says its accountant has "substantial doubt as to ur ability to continue as a going concern."

Rviera Holdings reported a net loss of $12.7 million for the ourth quarter of 2008, or $1.02 per share. It lost $6.1 million, r $0.50 per share, in the same period in 2007.

Rvenue was down 24 percent, to $36 million.

Cmpany stock was down 30 percent, at $1.03, in afternoon rading.
$.50 per share, in the same period in 2007.

Rvenue was down 24 percent, to $36 million.
ompany stock was down 30 percent, at $1.03, in afternoon Trading.


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