Vegas casinos get new leaders after bankruptcy.
Two Las Vegas-based casino operators are appointing new CEOs as they prepare to emerge from bankruptcy.
Two Las Vegas-based casino operators are appointing new CEOs as they prepare to emerge from bankruptcy.
Riviera Holdings and Herbst Gaming made the announcements in a court filing Friday, October 22.
Herbst Gaming, which owns restaurants, bars and stores in the Las Vegas area, as well as hotel-casinos in Northern Nevada and parts of the Midwest, has designated David Ross to take over the company once it emerges from bankruptcy, The Las Vegas Sun reports. Herbst expects to be able to exit bankruptcy sometime during the next financial quarter.
Taking over management for Riviera Holdings, which owns the 2,075-room Riviera casino on the Las Vegas Strip, will be Andy Choy, the former head of Las Vegas Sands Corp, the news source reports.
Herbst filed for Chapter 11 protection in March of last year. The filing was an attempt by the gaming giant to covert $848 million in bank debt into new debt and equity. Riviera Holdings filed for Chapter 11 in March, citing the current economy as the primary reason for the financial troubles.
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