-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VYxUB8JsRz3Gs5HP+LLrp3pVqwAwhE+S4X56g9ZKiySOawmV7CwqHrf7IcjGDhUd KkZPaW+TJ2j6vA6X5Wx0Cw== /in/edgar/work/0000899647-00-000019/0000899647-00-000019.txt : 20001030 0000899647-00-000019.hdr.sgml : 20001030 ACCESSION NUMBER: 0000899647-00-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20001027 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RIVIERA HOLDINGS CORP CENTRAL INDEX KEY: 0000899647 STANDARD INDUSTRIAL CLASSIFICATION: [7011 ] IRS NUMBER: 880296885 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-21430 FILM NUMBER: 747878 BUSINESS ADDRESS: STREET 1: 2901 LAS VEGAS BLVD SOUTH CITY: LAS VEGAS STATE: NV ZIP: 89109 BUSINESS PHONE: 7027345110 MAIL ADDRESS: STREET 1: 2901 LAS VEGAS BLVD S CITY: LAS VEGAS STATE: NV ZIP: 89109 8-K 1 0001.txt RIVIERA 8 K FILING SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report (Date of earliest event reported): October 24, 2000 RIVIERA HOLDINGS CORPORATION (exact name of registrant as specified in its charter) Nevada 000-21430 88-0296885 (State of (Commission (IRS Employer Incorporation) File Number) Identification No.) 2901 Las Vegas Boulevard Las Vegas, Nevada 89109 (Address of principal office) (Zip code) Registrant's Telephone number, (702) 794-9527 including area code Item 5. Other Events On October 24, 2000, Riviera Holdings Corporation (RHC) released its third quarter, 2000, financial results. A copy of the press release disclosing those results is filed as an exhibit hereto. On October 27, 2000, RHC announced that it had purchased, in a private transaction, 50,000 shares of its outstanding stock at the purchase price of $7.125 per share, the closing price of October 24, 2000, or an aggregate of $356,250. The purchased shares represent approximately 1.3 % of RHC's outstanding stock which now totals 3,768,022. A copy of the press release announcing this transaction dated October 27, 2000 is filed as an exhibit hereto. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (a) Not Applicable (b) Not Applicable (c) Exhibits 99.1 Press Release, dated October 24, 2000, announcing RHC third quarter, 2000, financial results. 99.2 Press Release, dated October 27, 2000, announcing RHC's purchase of 50,000 shares of its stock in a private transaction. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: October 27, 2000 RIVIERA HOLDINGS CORPORATION By: /s/ Duane Krohn Treasurer and CFO EXHIBIT INDEX Exhibit Number Description 99.1 Press Release, dated October 24,2000, disclosing RHC's third quarter, 2000 financial results 99.2 Press Release, dated October 27, 2000, announcing RHC's purchase of 50,000 shares of its common stock. EX-10 2 0002.txt PRESS RELEASE Riviera Holdings Corporation 2901 Las Vegas Boulevard South Las Vegas, NV 89109 Investor Relations: (800) 362-1460 TRADED: AMEX - RIV www.theriviera.com FOR FURTHER INFORMATION: AT THE COMPANY: INVESTOR RELATIONS CONTACT: Duane Krohn, Treasurer and CFO Betsy Truax, Skorpus Consulting (702) 794-9527 Voice (208) 241-3704 Voice (702) 794-9442 Fax (208) 232-5317 Fax Email: dkrohn@theriviera.com Email: etruax@aol.com FOR IMMEDIATE RELEASE: RIVIERA REPORTS THIRD QUARTER 2000 RESULTS LAS VEGAS, NV - October 24, 2000 -- Riviera Holdings Corporation (AMEX: RIV) today reported financial results for the third quarter ended September 30, 2000. Net revenues for the quarter were $51.4 million, up 32 percent from net revenues of $38.9 million in the third quarter of 1999. EBITDA (Earnings Before Interest, Income Taxes, Depreciation, Amortization, preopening expenses, and other income and expense, net) for the quarter was $7.0 million, up 40 percent from EBITDA of $5.0 million in 1999. The net loss increased from $2.2 million or ($0.43) per share in the third quarter of 1999 to $2.4 million or ($0.61) per share in the third quarter of 2000. The loss per share increased 18 cents primarily due to the repurchase of 1.3 million shares in the 12 months ended September 30, 2000. The number of shares outstanding decreased from 5.1 million to 3.8 million. For the first nine months of 2000, net revenues were $155.1 million, up 29 percent from net revenues of $119.9 million in the first nine months of 1999. EBITDA for the first nine months was $27.8 million, up 46 percent from EBITDA of $19.1 million in 1999. The Company's net loss decreased from $2.8 million or ($0.56) per share in the first nine months of 1999 to $2.2 million or ($0.55) per share in the first nine months of 2000. Riviera Holdings Corporation had cash and short-term investments of $56.4 million, working capital of $37.5 million and shareholders' equity of $20.1 million at September 30, 2000. Third Quarter Highlights - - Riviera Las Vegas ADR up $6 or 13% - - Riviera Las Vegas EBITDA $6.0 million for the quarter, up 25% - - Riviera Las Vegas margins increase 2.5% - - Cash and short-term investments totaled $56.4 million - - Riviera Black Hawk revenues increase 27% over the second quarter - - Riviera Black Hawk contributed $1.0 million in EBITDA EX-20 3 0003.txt PRESS RELEASE Riviera Holdings Corporation 2901 Las Vegas Boulevard South Las Vegas, NV 89109 Investor Relations: (800) 362-1460 TRADED: AMEX - RIV website: www.theriviera.com FOR FURTHER INFORMATION: AT THE COMPANY: INVESTOR RELATIONS CONTACT: Duane Krohn, Treasurer and CFO Betsy Truax, Skorpus Consulting (702) 794-9527 (208)-241-3704 Voice Email: dkrohn@theriviera.com (208)-232-5317 Fax FOR IMMEDIATE RELEASE: RIVIERA ANNOUNCES SHARE REPURCHASE LAS VEGAS, NV - October 27, 2000 -- Riviera Holdings Corporation (AMEX: RIV) today announced the Company has purchased, from an unsolicited offer in a private transaction, 50,000 shares of the Riviera's outstanding common stock. The purchase price was $7.125 per share, the closing sale price at October 24, 2000, or an aggregate of $356,250. The shares purchased amount to approximately 1.3% of the Company's outstanding common stock which now totals 3,768,022 shares. The Company does not intend to bid for its stock in the open market, however, it may respond to unsolicited offers in privately negotiated transactions in the future. Safe Harbor Statement: The forward-looking statements included in this news release, which reflect management's best judgment based on factors currently known, involve risks and uncertainties including expansion timetables, hotel and casino market conditions and other risks detailed from time to time in the Company's SEC reports, including the Report on Form 10-K for December 31, 1999. Actual results may differ. About Riviera Holdings: Riviera Holdings Corporation owns and operates the Riviera Hotel and Casino on the Las Vegas Strip and the Riviera Black Hawk Casino in Black Hawk, Colorado. Riviera is traded on the American Stock Exchange under the symbol RIV. -----END PRIVACY-ENHANCED MESSAGE-----