Riviera Sale and Demolition Details Confirmed: LVCVA to Pay $182.5 Million

9 Comments

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  disqus_L3DTF0uhXp February 20, 2015

  Its official. Closes may 4 at 12p.

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  Scott Roeben February 22, 2015

  Sadly so.

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• Scott Roeben" height="43" width="43">
  Scott Roeben February 22, 2015

  Sadly so.

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  ZzjitterzZ February 18, 2015

  The more i think about this, the more questions I have. Will this be a separate building or will it be connected to the rest of the convention center? It will be oddly shaped if it is connected. Will it have a hotel? It seems illogical to have all that strip frontage and not build one. I'm sure I'll have more questions later.

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  FYMYAWF February 18, 2015

  Stardust, Dunes, Sahara, the Riv...if you can't keep up with the times or turn a profit you will be replaced by something that can. Nice to see that those of us who'd like to give one last rub of the bronze asses at the front door will have a few months to do so.

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  JeffinOKC February 18, 2015

  Not fair comparison, IMO. Stardust was doing quite well for Boyd, but they decided to build a mega resort during an unprecedented boom time. I don't fault their judgment at the time, but as even Mr. Boyd has said; knowing what they know now, they would not have removed Stardust. Stardust being removed is part of what harmed the Riviera. Eight hotels and casinos have been removed within a mile of the Riv in the last 10-12 years, with nothing being built to replace them. The Riv wound up with only one neighbor, Circus-Circus. A major hindrance to foot traffic. Sahara and Riviera were both harmed by dying owners during the last 20 years. Bill Bennett bought Sahara in 1995, when he was quite ill, held on for 7 years, and his family was limited in what they could do until it sold in 2007. 12 hard years for a property that needed help in 1995. The Riviera was stifled by the slow death of chairman William Westerman until he did die in 2010. Apparently, a quite well respected man, nobody wanted to make any moves for the last three years of his life. My point being these weren't two properties that were in impossible locations, and removal is the only solution. Rather, they are two properties that can function quite well when they get ANY neighbors.

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  Danix Defcon 5 February 19, 2015

  Yeah... Stardust being demolished was a sad thing, because its replacement was a bad idea in retrospect. Right when they were beginning construction, the housing bubble burst and the money wells went dry.

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• 
  Arnie Gutierrez June 23, 2016

  Very nice analysis

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• Scott Roeben" height="43" width="43">
  Scott Roeben June 23, 2016

  Thank you!

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