Las Vegas authority to buy Riviera, demolish it

Associated Press//February 20, 2015

//February 20, 2015

The Las Vegas Convention and Visitors Authority has approved a deal to spend up to $191 million to buy the Riviera hotel and casino on the Las Vegas Strip with plans to demolish the property to make way for an expanded convention center. The authority’s board members voted Friday to move forward with the purchase that’s part of a $2.3 billion project it’s calling the Las Vegas Global Business District. The tourism agency is spending $182.5 million on the 26-acre property and up to $8.5 million in related costs. The 2,075-room Riviera is expected to close within six months. It opened in 1955.

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