Riviera Holdings Corporation Files For Chapter 11 Bankruptcy Reorganization

"We appreciate all of the hard work that our management and employees have provided and will continue to provide in helping us move forward towards this bright future. We are grateful that our working relationships with our suppliers, vendors, and other parties remain resolute. Finally, we thank all of our customers who have supported us; providing an outstanding service experience to them remains our highest priority."

About Riviera Holdings Corporation

The Company, through its wholly-owned subsidiary, Riviera Operating Corporation, owns and operates the Riviera Hotel & Casino located in Las Vegas, Nevada, which consists of a hotel comprised of five towers with 2,075 guest rooms, including 177 suites, and which has traditional Las Vegas-style gaming, entertainment and other amenities.  

The Company, through its wholly-owned subsidiary, Riviera Black Hawk, Inc., owns and operates the Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and has various non-gaming amenities, including parking, buffet-styled restaurant, delicatessen, a casino bar and a ballroom.

Forward-Looking Statements

This press release contains forward-looking information. In accordance with the "Safe Harbor" provisions (as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied in this news release.  Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management.  Forward-looking statements, including statements as to the operations of the Company, may be significantly and materially impacted by certain risks and uncertainties.  These risks and uncertainties include, but are not limited to, failure to obtain necessary Bankruptcy Court approvals and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.  Any forward-looking information in or referred to by this press release is current only as of the date of publication, and the Company disclaims any obligation to update this information, except as required by law.

SOURCE Riviera Holdings Corporation

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