Riviera Holdings Corp. reports $15.9 million net loss for 2011
Riviera Holdings Corp., 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.
