Rivacq transfers shares of Riviera Holdings to Arrow

By Lisa Kerner

Charlotte, N.C., June 1 – Rivacq, SOF Co-Invest, Arrow, Arrow Capital and Arrow Offshore Ltd. entered into a stock purchase agreement in which Rivacq agreed to transfer 307,447 shares of Riviera Holdings Corp. common stock to Arrow and Arrow Capital.

After the transfer, Rivacq will beneficially own 319,995 shares, or 2.57%, of the company’s common stock outstanding. SOF Co-Invest, as the sole member of Rivacq, may also be deemed to have beneficial ownership of the foregoing shares, according to a schedule 13D filing with the Securities and Exchange Commission.

Las Vegas-based Riviera owns and operates the Riviera Hotel and Casino in Las Vegas and the Riviera Black Hawk Casino in Black Hawk, Colo.

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