The Las Vegas Convention and Visitors Authority is nearing a $120 million deal to sell 10 acres of Strip-front property where the Riviera stood.
The LVCVA’s board of directors on Tuesday is scheduled to consider selling the land at the southeast corner of Las Vegas and Elvis Presley boulevards, across the intersection from the long-stalled former Fontainebleau tower, to CB Investment SpA.
Efforts to confirm anything about the buyer, including who is behind the entity, were not immediately successful Monday. LVCVA executives indicated they would provide more details about the buyer at Tuesday’s meeting.
The lucrative land sale would come as Las Vegas’ tourism industry, the backbone of the local economy, continues to bounce back from the pandemic-sparked plunge in visitors.
