Riviera holding corporation, has just announced that it will spend $20 to $30 million to refurbish the Riviera Hotel and casino. The company corporate secretary, Tullio Marchionne, said that the company had closed on the sale of the Rivera’s property in Black Hawk and the proceeds of the sale of the property will be ploughed back to refurbishment of the casino.
Marchionne made the project public before Nevada state gaming and control board on Wednesday. As is often the tradition, regulators are briefed on new project by property executives when licensing matters are being discussed.
The company has started renovations on the project has its has already painted the exterior of the property and the front office of the company has been relocated from the front office to near an area near to the properties convention center entrance. More emphasis is being laid in the development of the convention area and part of the project includes the plans to build a Porte cochere near the convention area.
Marchionne further confided that the company had refurbished the hotel rooms at a cost of $20 to $22 million in 2007 before the economic downturn in 2008 which greatly affected the casino industry.
He further, added that he believed those worst days are definitely over for the casino industry are over, and things will be much better in the days to come. The board members unanimously agreed to consent to the request of Marchionne license following the hearing.