Plainfield may seek representation on Riviera Holdings' board

By Lisa Kerner

Charlotte, N.C., Aug. 11 - Riviera Holdings Corp. shareholder Plainfield Special Situations Master Fund Ltd. said it intends to hold discussions with, write letters to and respond to inquiries from various parties, including the company's board of directors, management, other shareholders and other persons, regarding the Riviera's affairs and strategic alternatives.

Based on its discussions, Plainfield may:

• Form and conduct potential strategic developments;

• Seek representation on Riviera's board;

• Make recommendations concerning business strategies and the company's bylaws;

• Restructure and effect other significant transactions;

• Take actions to directly or indirectly change or influence control of Riviera; or

• Provide financing for any of the above.

It was previously reported that Riviera put all but its most critical capital projects on hold in an effort to conserve cash while the company faces headwinds, including poor economic conditions, the effects of a Colorado smoking ban and the impact of neighboring construction projects in Las Vegas.

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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