Former Vegas Riviera Hotel Land Parcel Sold For $120M

By Joyce Hanson (October 14, 2021, 7:00 PM EDT) -- The Las Vegas Convention and Visitors Authority's board of directors said it has unanimously approved the $120 million sale of a prime 10-acre land parcel on the Strip to a Chilean casino resort operator, who has agreed to develop the property as a hotel or resort.

The 10 acres of land sold for $120 million by the Las Vegas Convention and Visitors Authority were previously part of the Riviera Hotel, which was demolished in 2015 and 2016. (AP Photo/John Locher, file) CB Investment SpA, a company owned by South American businessman and real estate mogul Claudio Fischer, is buying the 10...

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