• 20-FEB-2015

Las Vegas Global Business District Takes a Major Step Forward

Las Vegas Global Business District Conceptual Drawing Day

The Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors voted today to approve a contract for the purchase of the historic Riviera Hotel & Casino’s 26-acre site as the cornerstone for its planned Las Vegas Global Business District. Under the agreement, the LVCVA will purchase the site for a total of $182.5 million. Funds for the acquisition will be drawn from the LVCVA’s bank credit facility with JPMorgan. The LVCVA will issue long-term bonds to retire the bank credit within the next two years. Terms of these bonds will follow the standard public bonding process.