Riviera obtains credit facility

Friday, Aug. 16, 2002 | 11:14 a.m.

Riviera Holdings Corp., which operates the Riviera Hotel & Casino in Las Vegas, has entered into a $30 million, five-year revolving credit facility with Wells Fargo & Co.

The Las Vegas-based company incurred loan fees of about $1.5 million, which will be expensed over the life of the agreement, according to a quarterly statement filed with the Securities and Exchange Commission.

The credit facility is secured by the same collateral that secures its 11 percent notes, with the credit facility senior to the 11 percent notes, the company said.

As of June 30, Riviera had cash and cash equivalents of $22 million. Cash and cash equivalents declined $19.6 million for the first six months of 2002, including $7.3 million of cash provided by operations, $5.2 million of cash outflow for investing activities and $26.7 million of outflow for financing activities.

Oscar loves forcing developers to sign labor peace agreements, Culinary loves the city's downtown plans and all is forgiven (1 Comment)

15 hours, 24 minutes ago

26 Thu
27 Fri
28 Sat
29 Sun
30 Mon

DJ Battle at Drai's

Drai's Afterhours | 10 p.m. to 11:59 p.m.
2012 at Cheyenne Saloon

Cheyenne Saloon | 10 p.m. to 11:59 p.m.
Sampson's Army at the Double Down Saloon

Double Down Saloon | 10 p.m. to 11:59 p.m.