Riviera Holdings investors enter into sixth amended agreement

By Lisa Kerner

Charlotte, N.C., June 5 - Riviera Holdings Corp. shareholders Flag Luxury Riv, LLC and Rivacq LLC contributed 50%, or $1,150,000, of the $2.3 million paid by Riv Acquisition Holdings, Inc. and Triple Five Investco LLC under an option agreement.

As a result, Flag and Rivacq are entitled to the beneficial ownership of 50% of any shares of Riviera Holdings that Riv Acquisition may acquire from Triple Five upon exercise of the option, according to a schedule 13D filing with the Securities and Exchange Commission.

The shareholders also entered into a sixth amended and restated joint filing agreement on June 4 with a number of other investors including SOF U.S. Hotel Co-Invest Holdings, LLC; Starwood Global Opportunity Fund VII-A, LP, SCG Hotel Management, LLC and Barry S. Sternlicht.

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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