58°F
weather icon Clear

Riviera shares close under $1

Riviera Holdings Corp. closed trading today at under $1 per share, a day after the company indicated it may file for bankruptcy this week.

Shares opened the day at $1.13, but plunged bellow the $1 mark just after 11 a.m. The stock hit as low as 85 cents per share before closing trading at 89 cents on the American Stock Exchange. The company, which owns a property on the Strip and one in Colorado, now has a market value of $11.12 million.

Shares opened trading at $1.47 on Tuesday before the company announced it skipped a $4 million interest payment that was due Monday. The company said it does not intend to make the payment on the $245 million credit facility with Wachovia Bank during a three-day grace period that expires tomorrow.

MOST READ
Don't miss the big stories. Like us on Facebook.
THE LATEST
Trump signs government funding bill, ending shutdown

President Donald Trump signed a government funding bill Wednesday night, ending a shutdown that caused financial stress for federal workers who went without paychecks, stranded scores of travelers at airports and generated long lines at some food banks.

Epstein emails say Trump ‘knew about the girls’ and spent time with a victim

Disgraced financier Jeffrey Epstein wrote in a 2011 email that Donald Trump had “spent hours” at Epstein’s house with a victim of sex trafficking and said in a separate message years later that Trump “knew about the girls,” according to communications released Wednesday.

What to know about Trump’s plan to give Americans a $2K tariff dividend

President Donald Trump boasts that his tariffs protect American industries, lure factories to the United States, raise money for the federal government and give him diplomatic leverage. Now, he’s claiming they can finance a windfall for American families, too

MORE STORIES