“As a result, the LVCVA terminated the agreement, received the $7 million nonrefundable deposit, and relisted the property.”Īn LVCVA spokeswoman said the loss of the deal would not impact its schedule for a two-year $600 million renovation project on the Las Vegas Convention Center’s North, Central and South halls, which is due to start at the end of March. 15,” LVCVA President and CEO Steve Hill said in an emailed statement. “The land sale to developer Claudio Fischer did not close on Dec. The Chilean billionaire who planned to acquire 10 acres where the Riviera once stood has backed out of the $120 million deal with the Las Vegas Convention and Visitors Authority.Ĭlaudio Fischer, a former commercial airline pilot who developed the Monticello casino resort near Santiago, Chile, and the Park Hyatt Mendoza hotel-casino in Argentina and has real estate holdings in Panama, owns two airlines and the resort development company Sun Dreams. The LVCVA originally acquired the Riviera land to complete its development of the $1 billion Las Vegas Convention Center’s West Hall.
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