In announcing a $12.7 million fourth-quarter net loss, Riviera Holdings said it will default on a $227 million outstanding credit facility. The company, which acknowledged that there is "substantial doubt" about its capacity to continue as a going concern, missed a $4 million interest payment on a credit facility that was due Monday. But Riviera said its Las Vegas and Black Hawk, Colo., casino properties generate enough cash flow to ensure it can pay its operating costs.

Full Story:

Related Summaries