Riviera Shareholders Reject Buyout Offer

From Bloomberg News

Riviera Holdings Corp., owner of casinos in Nevada and Colorado, said its shareholders had voted down a $211-million buyout offer from Riv Acquisition Holdings Inc.

The $17-a-share proposal required 60% of shares voted in favor to be approved, Riviera said in a filing with the Securities and Exchange Commission.

The company’s flagship property is Riviera Hotel & Casino in Las Vegas.