Riviera Holdings Corporation
2901 Las Vegas Boulevard South
Las Vegas, NV 89109
Investor Relations: (800) 362-1460
TRADED: AMEX - RIV
website: www.theriviera.com
FOR FURTHER INFORMATION:
AT THE COMPANY: INVESTOR RELATIONS CONTACT:
Duane Krohn, Treasurer and CFO Betsy Truax, Skorpus Consulting
(702) 794-9527 (208)-241-3704 Voice
Email: [email protected] (208)-232-5317 Fax
FOR IMMEDIATE RELEASE:
RIVIERA ANNOUNCES SHARE REPURCHASE
LAS VEGAS, NV - October 27, 2000 -- Riviera Holdings Corporation (AMEX:
RIV) today announced the Company has purchased, from an unsolicited offer in a
private transaction, 50,000 shares of the Riviera's outstanding common stock.
The purchase price was $7.125 per share, the closing sale price at October 24,
2000, or an aggregate of $356,250. The shares purchased amount to approximately
1.3% of the Company's outstanding common stock which now totals 3,768,022
shares. The Company does not intend to bid for its stock in the open market,
however, it may respond to unsolicited offers in privately negotiated
transactions in the future.
Safe Harbor Statement:
The forward-looking statements included in this news release, which reflect
management's best judgment based on factors currently known, involve risks and
uncertainties including expansion timetables, hotel and casino market conditions
and other risks detailed from time to time in the Company's SEC reports,
including the Report on Form 10-K for December 31, 1999. Actual results may
differ.
About Riviera Holdings:
Riviera Holdings Corporation owns and operates the Riviera Hotel and Casino on
the Las Vegas Strip and the Riviera Black Hawk Casino in Black Hawk, Colorado.
Riviera is traded on the American Stock Exchange under the symbol RIV.
