Tuesday, July 13, 2010

Riviera Holdings, Las Vegas Casino Owner, Files for Bankruptcy

July 13 (Bloomberg) -- Riviera Holdings Corp., the owner of the Riviera Hotel & Casino in Las Vegas, filed for bankruptcy court protection under Chapter 11 in Nevada.

The company listed assets and liabilities of $100 million to $500 million each in a filing yesterday in U.S. Bankruptcy Court in Las Vegas. The company said in a statement that it has a restructuring agreement with the lenders who hold the majority of the secured claims under a $228 million credit agreement.

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