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Riviera Holdings reports $15.9 million net loss for 20114 April 2012Riviera Holdings, owner of the Riviera on the Strip, reported a net loss of $15.9 million last year, a modest increase from the $13 million loss in 2010. The Riviera, which emerged from bankruptcy in April 2011 under new ownership, reported net revenues for the Strip property were $81.7 million, up 3 percent from $79.3 million in 2010. The company did not disclose quarterly numbers in its annual report. Riviera Holdings attributed the loss to higher casino and general administrative expenses. Copyright GamingWire. All rights reserved. |