BUSINESS BRIEFING / GAMBLING
Times Wire Reports
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 in Las Vegas and the Riviera Black Hawk in Colorado says it can’t make a payment due Monday on its $245-million credit facility.
Riviera Holdings reported a net loss of $12.7 million for the fourth quarter of 2008, or $1.02 per share. It lost $6.1 million, or $0.50 per share, in the same period in 2007.
Revenue was down 24%, to $36 million.
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