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 TO BROADCAST FOURTH QUARTER CONFERENCE CALL LIVE OVER INTERNET
FEBRUARY 13

LAS VEGAS, NV - January 11, 2001 -- Riviera  Holdings  Corporation  (AMEX:  RIV)
announced today that investors may listen to its fourth quarter  conference call
live over the Internet on Tuesday,  February 13, 2001 at 2 p.m.  Eastern Savings
Time. The  conference  call will be broadcast via Investor  Broadcast  Networks'
Vcall website  located at  http://www.vcall.com  and through a Vcall link at the
Company's  website located at  http://www.theriviera.com.  To listen to the live
call,  investors  should  go to  either  website  at least 15  minutes  early to
register,  download and install any necessary  audio  software.  A replay of the
fourth  quarter  conference  will be  available  through  Vcall for 24 hours and
through the Riviera website for seven days following the call.

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.

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.