An attorney for Riviera Holdings Corp has confirmed that Starwood Capital is participating in the restructuring of the Riviera Hotel Casino on the Las Vegas Strip and Riviera Black Hawk in Colorado.

Riviera Holdings Corp who has been teetering on the brink of bankruptcy for almost a year announced this week that have filed for chapter 11 protection.

Riviera Holdings Corp is still teetering on the brink of bankruptcy as its gaming revenue losses widen.

Riviera Holdings Corp has announced that Owner and Executive Chairman 78 year old William Westerman died on Sunday.

Riviera Holdings Corp, the owner of the Riviera hotel-casino on the Las Vegas Strip and the Riviera Black Hawk casino in Colorado, released its 2009 annual numbers this week reiterating its troubled financial state.

Investment Firm Starwood Capital Group LLC is once again vying to take control of ailing casino operator Riviera Holdings Corp.

Riviera Holdings Corp reported their third quarter financial results on Monday and made no assurance that the gaming company would be able to avoid filing for bankruptcy. The owners of the Riviera hotel and casino on the Las Vegas Strip have been considering bankruptcy since March as they defaulted in credit agreements.

Riviera Holdings announced today that its common stock will no longer be listed on the New York Stock Exchange. Trading was suspended yesterday by the NYSE, after Riviera was told the company had to meet requirements by a deadline company officials said they could not meet.

The first quarter showed a little kindness to Riviera Holdings, as the casino operator reported smaller losses than last year. Riviera said it lost $1 million, or eight cents a share, compared to $5.8 million, or forty-seven cents a share, last year.

A dispute in banking arrangements between Riviera Holdings and Wachovia Bank led to the bank notifying the casino operating company that it was in technical default of its credit provisions.