[dragonsky]

Originally Posted by LVS

Tourism authority OKs $182.5 million purchase of Riviera

Las Vegas tourism officials today agreed to pay $182.5 million to buy the Riviera, paving the way for the closure and demolition of the 60-year-old hotel-casino.

Once the Riviera is demolished, the authority plans to replace it with thousands of square feet of new exhibit and meeting space as part of its $2.3 billion Las Vegas Global Business District project.

The project is expected to bring 6,000 construction jobs and up to 6,000 permanent jobs to the valley, according to the authority.

Beyond jobs, the authority anticipates the entire business district project will generate $3.6 billion in economic activity on the construction portion alone; once finished, it could produce an incremental economic impact of nearly $700 million and $221 million in wages and salaries, the authority said.

http://www.lasvegassun.com/news/2015...rchase-rivier/