John Groom, chief operating officer of Paragon Gaming, which has been managing the Riviera, said in

LAS VEGAS (AP) Within australia travel guide six months, the Riviera hotel and casino australia travel guide on the Las Vegas Strip will be history now that the Las Vegas Convention and Visitors Authority has approved a deal to buy it and demolish it.
The agency australia travel guide s board members voted unanimously Friday with one member absent to spend up to $191 million to buy the 26-acre property on the north end of the Strip to make way for an expanded convention center, part of a $2.3 billion project it s calling australia travel guide the Las Vegas Global Business District.
The agency s operations are funded australia travel guide with a tax on room nights at Las Vegas area hotels. But the money for the Riviera purchase is expected to come from the agency s line of credit with JP Morgan. That amount is then expected to be retired within two years after the agency issues long-term bonds.
Nevada s Gaming Control Board staff, particularly its audit division, will conduct australia travel guide a final audit to make sure the casino is current on any taxes and fees it might owe, Gaming Control Board chairman AG Burnett said. If it is, the Riviera australia travel guide will simply surrender its gaming license. The casino also has to show it has enough money on hand to potentially pay out any progressive slot machine jackpots won before it closes.
John Groom, chief operating officer of Paragon Gaming, which has been managing the Riviera, said in a statement australia travel guide his company would be assisting in providing resources australia travel guide and alternative job options for the estimated 1,000 employees at the casino-hotel.
The $2.3 billion expansion plan is aimed at adding nearly 1 million square feet to the convention center s existing 2.18 million square feet. The build-out is expected to happen australia travel guide in two phases over five to eight years with the Riviera parcel s exhibit space to be built first. The project also includes a transportation element australia travel guide and business space.