The Riviera rejected a $336 million offer for the company, the latest in a long string of offers for the valuable Las Vegas Strip hotel.
Sure, the Riv is long in the tooth but if the New Frontier down the street does sell for $1.5 billion, the land is worth even more than anyone could have imagined even only one year ago. The Riv will sell, it's just a matter of time.
With Encore, Echelon Place, Fontainebleau, Sahara, the Wet and Wild site and whatever happens with the New Frontier, the Riv site will be re-developed, no question. Just a matter of time and the right buyer.