UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Riviera Holdings Corp.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
769627100
--------------------------------------------------------------------------------
(CUSIP Number)
Andrew J. Perel
Cadwalader, Wickersham & Taft LLP
One World Financial Center
New York, New York 10281
(212) 504-6656
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 22, 2005
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box |_|
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 2 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Flag Luxury Riv, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 400,000
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
400,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 3 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Flag Luxury Properties, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 4 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MJX Flag Associates, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 5 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Flag Leisure Group, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 6 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Sillerman Real Estate Ventures, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 7 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Robert Sillerman
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 8 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Paul Kanavos
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 9 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brett Torino
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 400,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 10 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Rivacq LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 300,000
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
300,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 11 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SOF U.S. Hotel Co-Invest Holdings, L.L.C
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
XXX
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 12 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SOF VII U.S. Hotel Holdings, L.L.C
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 13 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
I-1/I-2 U.S. Holdings, L.L.C
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AE
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 14 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood Global Opportunity Fund VII-A, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 15 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood Global Opportunity Fund VII-B, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 16 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood US Opportunity Fund VII-D, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 17 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood US Opportunity Fund VII D-2, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 18 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood Capital Hospitality Fund I-1, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 19 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood Capital Hospitality Fund I-2, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 20 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SOF-VII Management, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 21 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCG Hotel Management, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 22 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Starwood Capital Group Global, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 23 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry S. Sternlicht
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 123,200
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
123,200
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
423,200
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 24 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
High Desert Gaming, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 300,000
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
300,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 25 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAMB Partners
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 300,000
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
300,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 26 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAMB, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 300,000
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
300,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 27 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ISLE Investors, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 75,300
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
75,300
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 28 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Greg Carlin
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 375,300
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
375,300
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
375,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 29 OF 42 PAGES
---------------------------- -------------------------
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Neil Bluhm
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 300,000
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 30 OF 42 PAGES
---------------------------- -------------------------
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this statement on Schedule 13D
relates is the common stock, par value $0.001 per share (the "Common Stock"), of
Riviera Holdings Corp., a Nevada corporation (the "Company"). The Company's
principal executive offices are located at 2901 Las Vegas Boulevard South, Las
Vegas, Nevada 89109.
ITEM 2. IDENTITY AND BACKGROUND
This statement on Schedule 13D is being filed by Flag Luxury Riv, LLC
("FLR"), Flag Luxury Properties, LLC ("FLP"), MJX Flag Associates, LLC ("MJX"),
Flag Leisure Group, LLC ("FLG"), Sillerman Real Estate Ventures, LLC ("SREV"),
Robert Sillerman, Paul Kanavos, Brett Torino, Rivacq LLC ("Rivacq"), SOF U.S.
Hotel Co-Invest Holdings, L.L.C. ("SOF Co-Invest"), SOF VII US Hotel Holdings,
L.L.C. ("SOF VII"), I-1/I-2 U.S. Holdings, L.L.C. ("Hotel Fund"), Starwood
Global Opportunity Fund VII-A, L.P. ("Opportunity Fund VII-A"), Starwood Global
Opportunity Fund VII-B, L.P. ("Opportunity Fund VII-B"), Starwood U.S.
Opportunity Fund VII-D, L.P. ("Opportunity Fund VII-D"), Starwood U.S.
Opportunity Fund VII D-2, L.P. ("Opportunity Fund VII D-2," and together with
Opportunity Fund VII-A, Opportunity Fund VII-B, and Opportunity Fund VII-D the
"Opportunity Funds"), Starwood Capital Hospitality Fund I-1, L.P. ("Hospitality
Fund I-1"), Starwood Capital Hospitality Fund I-2, L.P. ("Hospitality Fund I-2,"
and together with Hospitality Fund I-1 the "Hospitality Funds"), SOF-VII
Management, L.L.C. ("SOF VII Management"), SCG Hotel Management, L.L.C. ("Hotel
Management"), Starwood Capital Group Global, LLC ("SCGG"), Barry S. Sternlicht,
High Desert Gaming, LLC ("HDG"), LAMB Partners, LAMB, LLC, ISLE Investors, LLC
("ISLE"), Greg Carlin, and Neil Bluhm (together the "Reporting Persons").
FLR is a limited liability company formed under the laws of Delaware with
its business address at 650 Madison Avenue, New York, NY 10022. FLR's principal
business is the holding of Common Stock, 50% of which is held on behalf of FLP
and 50% of which is held on behalf of Brett Torino.
FLP, a limited liability company formed under the laws of Delaware, is a
member of FLR, with an approximate 50% equity interest in FLR. FLP's business
address is 650 Madison Avenue, New York, NY 10022 and its principal business is
the development of high-end residential and hotel real estate properties.
MJX, a limited liability company formed under the laws of Delaware, is a
member of FLP with an approximate 29.9% equity interest in FLP. MJX's business
address is 650 Madison Avenue, New York, NY 10022 and its principal business is
the holding of a membership interest in FLP.
FLG, a limited liability company formed under the laws of Delaware, is the
managing member of FLP with an approximate 6.4% equity interest in FLP. FLG's
business address is 650 Madison Avenue, New York, NY 10022 and its principal
business is the management of FLP.
SREV, a limited liability company formed under the laws of Delaware, is a
member of FLG with a 30% equity interest in FLG. SREV's business address is 650
Madison Avenue, New York, NY 10022 and its principal business is the holding of
a membership interest in FLG and lending funds to FLP and its affiliates.
Robert Sillerman is the sole member of SREV, and owns substantially all of
the equity interest of MJX. Mr. Sillerman is a citizen of the United States. Mr.
Sillerman's business address is 650 Madison Avenue, New York, NY 10022 and his
present principal occupation is Chairman and Chief Executive Officer of CKX,
Inc.
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 31 OF 42 PAGES
---------------------------- -------------------------
Paul Kanavos is the president of FLR, FLP and FLG. Mr. Kanavos is also a
member of FLP with an approximate 13.6% equity interest in FLP that he holds
solely and an approximate 9% equity interest in FLP that he holds jointly with a
member of his family. Mr. Kanavos is also a member of FLG and holds a 70% equity
interest in FLG. Mr. Kanavos is a citizen of the United States. Mr. Kanavos'
business address is 650 Madison Avenue, New York, NY 10022 and his principal
occupation is President of FLP.
Brett Torino is the beneficial owner of 50% of the shares of Common Stock
held by FLR. Mr. Torino is a citizen of the United States. Mr. Torino's business
address is 6430 Schirlls Street, Las Vegas, NV 89118 and his present principal
occupation is that of real estate professional.
Rivacq is a limited liability company formed under the laws of Delaware
with its business address at One World Financial Center, New York, NY 10281.
Rivacq's principal business is the holding of Common Stock.
SOF Co-Invest, a limited liability company formed under the laws of
Delaware, is the sole member of Rivacq. SOF Co-Invest's business address is 591
W. Putnam Ave., Greenwich, CT 06830 and its principal business is real estate
investment.
SOF VII, a limited liability company formed under the laws of Delaware, is
a member of SOF Co-Invest with a 25% equity interest in SOF Co-Invest. SOF VII's
business address is 591 W. Putnam Ave., Greenwich, CT 06830 and its principal
business is real estate investment.
Hotel Fund, a limited liability company formed under the laws of Delaware,
is a member of SOF Co-Invest with a 75% equity interest in SOF Co-Invest. Hotel
Fund's business address is 591 W. Putnam Ave., Greenwich, CT 06830 and its
principal business is real estate investment.
The Opportunity Funds, each a limited partnership formed under the laws of
Delaware, collectively own 100% of the equity of SOF VII. The business address
for each of the Opportunity Funds is 591 W. Putnam Ave., Greenwich, CT 06830 and
the principal business of each of the Opportunity Funds is real estate
investment.
The Hospitality Funds, each a limited partnership formed under the laws of
Delaware, together own 100% of the equity of Hotel Fund. The business address
for each of the Hospitality Funds is 591 W. Putnam Ave., Greenwich, CT 06830 and
the principal business of each of Hospitality Funds is real estate investment.
SOF VII Management, a limited liability company formed under the laws of
Delaware, is the general partner of each of the Opportunity Funds. SOF VII
Management's business address is 591 W. Putnam Ave., Greenwich, CT 06830 and its
principal business is real estate investment.
Hotel Management, a limited liability company formed under the laws of
Delaware, is the general partner of each of the Hospitality Funds. Hotel
Management's business address is 591 W. Putnam Ave., Greenwich, CT 06830 and its
principal business is real estate investment.
SCGG, a limited liability company formed under the laws of Connecticut, is
the general manager of each of SOF VII Management and Hotel Management. SCGG's
business address is 591 W. Putnam Ave., Greenwich, CT 06830 and its principal
business is real estate investment.
Barry S. Sternlicht is the chairman and CEO of SCGG and CEO of SOF VII and
Hotel Fund. Mr. Sternlicht is a citizen of the United States. Mr. Sternlicht's
business address is 591 W. Putnam Ave., Greenwich, CT 06830 and his present
principal occupation is that of private investor.
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 32 OF 42 PAGES
---------------------------- -------------------------
HDG is a limited liability company formed under the laws of Delaware with
its business address at 900 North Michigan Avenue, Suite 1900, Chicago, IL
60611. HDG's principal business is investment in securities and various other
asset classes.
LAMB Partners, a general partnership formed under the laws of Illinois, is
a member of HDG with an approximate 76% equity interest in HDG. LAMB Partners'
business address is 900 North Michigan Avenue, Suite 1900, Chicago, IL 60611 and
its principal business is investment in securities and various other asset
classes.
LAMB, LLC, a limited liability company formed under the laws of Delaware,
is the managing partner of LAMB Partners. LAMB, LLC's business address is 0223
Placer Lane, Aspen, CO 81612, P.O. Box 2147 and its principal business is
investment in securities and various other asset classes.
ISLE is a limited liability company formed under the laws of Delaware with
its business address at 900 North Michigan Avenue, Suite 1900, Chicago, IL
60611. ISLE's principal business is investment in securities and various other
asset classes.
Greg Carlin and Neil Bluhm are the sole managers of HDG. Mr. Carlin is
also the manager of ISLE. Mr. Carlin is a citizen of the United States. Mr.
Carlin's business address is 900 North Michigan Avenue, Suite 1900, Chicago, IL
60611 and his present principal occupation is Managing Director of LAMB
Partners. Mr. Bluhm is also the managing member of LAMB, LLC. Mr. Bluhm is a
citizen of the United States. Mr. Bluhm's business address is 900 North Michigan
Avenue, Suite 1900, Chicago, IL 60611 and his present principal occupation is
that of private investor.
None of the Reporting Persons has during the past five years, (i) been
convicted in any criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate purchase price for the 400,000 shares of Common Stock to be
initially purchased by FLR pursuant to the Stock Purchase Agreement (as defined
in Item 4 below) is $6,000,000. It is anticipated that the source of funding for
the purchase of these shares of Common Stock will be a capital contribution from
the working capital of FLP and Brett Torino.
The aggregate purchase price for the 300,000 shares of Common Stock to be
initially purchased by Rivacq pursuant to the Stock Purchase Agreement (as
defined in Item 4 below) is $4,500,000. It is anticipated that the source of
funding for the purchase of these shares of Common Stock will be capital
contributions from the Opportunity Funds and Hospitality Funds.
The aggregate purchase price for the 300,000 shares of Common Stock to be
initially purchased by HDG pursuant to the Stock Purchase Agreement (as defined
in Item 4 below) is $4,500,000. It is anticipated that the source of funding for
the purchase of these shares of Common Stock will be a capital contribution from
the working capital of investors in HDG.
ITEM 4. PURPOSE OF TRANSACTION
The shares of Common Stock beneficially owned by Barry S. Sternlicht and
ISLE were originally acquired and held for investment.
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 33 OF 42 PAGES
---------------------------- -------------------------
On December 22, 2005, FLR, Rivacq, and HDG (collectively, the "Buyers")
entered into a joint bidding agreement (the "Joint Bidding Agreement") pursuant
to which the Buyers agreed, among other things, to (i) cooperate with each other
in connection with negotiating with the Company the terms and conditions of a
definitive agreement with respect to a potential acquisition of the Company,
(ii) obtain the financing necessary to fund the consummation of such a potential
acquisition, (iii) form a wholly-owned subsidiary of the Buyers ("Merger Sub")
in connection with a potential merger of Merger Sub into the Company, the
outstanding equity interests of which Merger Sub would be owned as to 40% by
FLR, as to 30% by Rivacq and as to 30% by HDG and (iv) coordinate any
acquisitions of shares of Common Stock such that the Buyers would respectively
own such shares of Common Stock proportionately to the foregoing percentages.
Under the Joint Bidding Agreement, the Buyers further agreed to share all
expenses stemming from the activities contemplated by the Joint Bidding
Agreement in proportion to the foregoing percentages. Pursuant to the Joint
Bidding Agreement, each of the Buyers possesses a right of first offer with
respect to any shares of Company Stock which any of the other parties to the
Joint Bidding Agreement wishes to sell or transfer to any person other than an
affiliate of such party or Merger Sub.
On December 22, 2005, the Buyers entered into a Stock Purchase Agreement
(the "Stock Purchase Agreement") with William L. Westerman ("Westerman") and The
William L. Westerman 2004 Revocable Family Trust (the "Trust"), pursuant to
which the Buyers agreed to acquire 1,000,000 shares of Common Stock from the
Trust at a price of $15 per share, for an aggregate purchase price of
$15,000,000. Pursuant to the Stock Purchase Agreement, FLR agreed to purchase
400,000 shares of Common Stock for an aggregate purchase price of $6,000,000,
Rivacq agreed to purchase 300,000 shares of Common Stock for an aggregate
purchase price of $4,500,000, and HDG agreed to purchase 300,000 shares of
Common Stock for an aggregate purchase price of $4,500,000. The closing of such
purchase and sale is currently scheduled to be held not earlier than January 3,
2006 and not later than January 10, 2006.
In addition, pursuant to the Stock Purchase Agreement, the Buyers agreed
to purchase 650,000 additional shares of Common Stock from the Trust at a
purchase price of $15 per share, for an aggregate purchase price of $9,750,000
(the "Second Purchase"). The Second Purchase would consist of FLR acquiring
260,000 shares of Common Stock from the Trust for an aggregate purchase price of
$3,900,000, Rivacq acquiring 195,000 shares of Common Stock from the Trust for
an aggregate purchase price of $2,925,000 and HDG acquiring 195,000 shares of
Common Stock from the Trust for an aggregate purchase price of $2,925,000.
Pursuant to the Stock Purchase Agreement, the Trust also granted FLR, Rivacq and
HDG an option to purchase 501,285 shares of Common Stock held by the Trust at a
price of $15.00 per share, for an aggregate purchase price of $6,619,275 (the
"Option"). The shares of Common Stock subject to the Option are allocated among
the Buyers as follows: FLR would have the option to acquire 176,588 shares of
Common Stock from the Trust for an aggregate purchase price of $2,647,830,
Rivacq would have the option to acquire 132,502 shares of Common Stock from the
Trust for an aggregate purchase price of $1,986,630, and HDG would have the
option to aquire 132,501 shares of Common Stock from the Trust for an aggregate
purchase price of $198,615. The Option is subject to partial exercise, provided
that each exercise of the Option must involve the acquisition by the Buyers
collectively of not less than 20,000 shares of Common Stock from the Trust. The
Buyers' obligation to consummate the Second Purchase is subject to the
satisfaction or waiver by the Buyers of each of the following conditions: (i)
the waiver by the Board of Directors of the Company (the "Board") of the
provisions of the Company's Articles of Incorporation which would, absent such
consent, restrict the voting rights of any person that acquired 10% or more of
the outstanding shares of Common Stock; (ii) the approval by the Board of the
acquisition by the Buyers of the shares of Common Stock subject to the Second
Purchase and the Option in accordance with the provisions of the General
Corporation Law of Nevada prohibiting, absent such approval, certain
transactions between "interested stockholders" and the Company; (iii) the
approval by the Board of the acquisition by the Buyers, by merger or otherwise,
of control of the Company (an "Acquisition Transaction") (clauses (i), (ii) and
(iii) being collectively, the "Board Approvals") and (iv) such approvals or
other assurances as the Buyers may deem necessary or desirable from the Nevada
gaming authorities and the Colorado gaming authorities in connection with the
SCHEDULE 13D
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CUSIP NO.: 769627100 PAGE 34 OF 42 PAGES
---------------------------- -------------------------
closing of the Second Purchase and the purchase and sale of the shares of Common
Stock subject to the Option (clause (iv) being the "10% Gaming Approval"). The
grant of the Option is effective upon the occurrence of the Board Approvals but
the closing of the purchase and sale of the shares of Common Stock subject to
the Option is also subject to the issuance of the 10% Gaming Approval.
Under the Stock Purchase Agreement, Westerman has agreed, subject to his
fiduciary duties as an executive officer and director of the Company, to (i)
assist and cooperate with the Buyers in obtaining the 10% Gaming Approval as
well as such approvals of the Nevada and Colorado gaming authorities as may be
necessary to consummate an Acquisition Transaction and (ii) propose to the Board
that a vacancy be created on the Board or that the Board be expanded and that a
candidate nominated by the Buyers be appointed to the Board. Under the Stock
Purchase Agreement, Westerman and the Trust have agreed, (i) subject to the
issuance of the 10% Nevada Gaming Approval, to grant an irrevocable proxy to FLR
or such other person as FLR shall designate to vote, at any meeting of the
stockholders of the Company, all of the shares of Common Stock held by Westerman
or the Trust in favor of the approval of any Acquisition and against any action,
agreement or transaction that would result in the Company's obligations under an
agreement with the Buyers with respect to an Acquisition Transaction (an
"Acquisition Agreement") not being fulfilled and (ii) to cause any of the shares
of Common Stock held by Westerman or the Trust to be voted in accordance with
the foregoing. The Trust has also agreed, except as specifically permitted by
the Stock Purchase Agreement or an Acquisition Agreement, not to sell, assign,
transfer or otherwise encumber, or grant any voting rights or option, with
respect to the shares of Common Stock held by the Trust, other than the
charitable donation of no more than 100,000 shares of Common Stock following the
approval of an Acquisition Transaction by the stockholders of the Company.
The Stock Purchase Agreement further provides that the Buyers' current
intent is to enter into negotiations with the Board with the objective of
entering into an Acquisition Agreement as soon as practicable on terms
reasonably acceptable to the Buyers providing for an Acquisition Transaction at
a price of not less than $15 per share of Common Stock; provided that the Buyers
and Westerman acknowledge that since the Company's press release of November 8,
2005 announcing the Company's conclusion of its strategic process, the Board has
not considered any Acquisition Transaction and there is no assurance that any
such Acquisition Transaction can be negotiated. Under the Stock Purchase
Agreement, the Buyers have agreed to indemnify Westerman against, among other
things, any loss resulting from any action brought by a third party against
Westerman in his capacity as a stockholder (but not as a director or executive
officer) of the Company in connection with the Stock Purchase Agreement (but
excluding any losses resulting from Westerman's having been found to be in
breach of his fiduciary duties to the Company or its stockholders).
The Stock Purchase Agreement will automatically terminate upon the
earliest of (i) the consummation of an Acquisition Transaction, (ii) 6 months
following the date of the Stock Purchase Agreement in the event an Acquisition
Agreement has not been executed by such date and (iii) (A) in the event that an
Acquisition Agreement is entered into and is terminated in circumstances where
the Company is potentially required to pay to the Buyers a termination fee or
similar fee, 12 months following the date of such Acquisition Agreement or (B)
in the event such Acquisition Agreement is terminated for any other reason, upon
such termination.
In addition to the acquisition of shares of Common Stock pursuant to the
Second Purchase and the Option, the Reporting Persons may engage in additional
purchases of shares of Common Stock, on the open market or otherwise, from time
to time and depending on market conditions, in order to increase their stake in
the Company. The Reporting Persons have engaged Bear, Stearns & Co. Inc. as
their financial advisor in connection with a possible Acquisition Transaction.
The Reporting Persons currently intend to approach the Board in order to
initiate discussions with respect to a possible Acquisition Transaction to be
effected at a price of $15 in cash per share of Common Stock. Such a possible
Acquisition could involve, without limitation, a merger of Merger Sub with and
into the Company.
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 35 OF 42 PAGES
---------------------------- -------------------------
However, there can be no assurance that any such Acquisition Transaction can be
negotiated nor as to the price that may be agreed in connection with any such
Acquisition Transaction. The Reporting Persons also intend to propose the
appointment of a nominee to the Board. The Reporting Persons may, at any time
and from time to time, review, reconsider or change their plans or proposals
with respect to any of the foregoing.
The foregoing and subsequent references to, and descriptions of, the Joint
Bidding Agreement are qualified in their entirety by reference to the Joint
Bidding Agreement, the terms of which are incorporated herein by reference to
Exhibit 10.2 hereto.
The foregoing and subsequent references to, and descriptions of, the Stock
Purchase Agreement are qualified in their entirety by reference to the Stock
Purchase Agreement, the terms of which are incorporated herein by reference to
Exhibit 10.3 hereto.
Because the Stock Purchase Agreement provides for certain arrangements
among Buyers, Westerman and the Trust with respect to, among other things, the
voting of Common Stock, Buyers, Westerman and the Trust may be deemed to be a
"group" as referred to in Rule 13d-5 under the Securities and Exchange Act of
1934, as amended. Neither the filing of this Schedule 13D nor any of its
contents shall be deemed to constitute an admission that the Buyers, Westerman
and the Trust are members of a "group" for purposes of Rule 13d-5, or that any
such "group" exists, and the Buyers expressly disclaim the existence, or
membership in, any such "group" and beneficial ownership of Common Stock held by
any such persons.
Except as indicated above, none of the Reporting Persons has formulated
any plans or proposals which relate to or would result in: (a) the acquisition
by any person of additional securities of the Company, or the disposition of
securities of the issuer; (b) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the Company or any of its
subsidiaries; (c) a sale or transfer of a material amount of assets of the
Company or any of its subsidiaries; (d) any change in the present board of
directors or management of the Company, including plans or proposals to change
the number or term of directors or to fill any existing vacancies in the board
of directors; (e) any material change in the present capitalization or dividend
policy of the Company; (f) any other material change in the Company's business
or corporate structure; (g) changes in the Company's Articles of Incorporation,
By-laws or instruments corresponding thereto or other actions which may impede
the acquisition of control of the Company by any person; (h) causing a class of
securities of the Company to be delisted from a national securities exchange or
cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association; (i) causing a class of equity
securities of the Company to become eligible for termination of registration
pursuant to Section 12(g) (4) of the Securities Act of 1933, as amended, or (j)
any action similar to those enumerated above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Pursuant to the Stock Purchase Agreement, FLR has agreed to acquire
400,000 shares of Common Stock from the Trust. The closing of such acquisition
is currently scheduled to be held not earlier than January 3, 2006 and not later
than January 10, 2006. Accordingly, FLR may be deemed to have beneficial
ownership of such shares of Common Stock, which represent approximately 3.2% of
the outstanding shares of Common Stock as of October 31, 2005. FLP, as a member
of FLR with a 50% equity interest in FLR, may also be deemed to have beneficial
ownership of the foregoing shares of Common Stock. Brett Torino, as the
beneficial owner of 50% of the shares of Common Stock held by FLR, may also be
deemed to have beneficial ownership of the foregoing shares of Common Stock.
MJX, as a member of FLP with an approximate 29.9% equity interest in FLP, may
also be deemed to have beneficial ownership of the foregoing shares of Common
Stock. FLG, as the managing member of FLP with an approximate 6.4% equity
interest in FLP, may also be deemed to have beneficial ownership of the
foregoing shares of Common Stock. SREV, as a member of FLG with a 30% equity
interest in FLG, may
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 36 OF 42 PAGES
---------------------------- -------------------------
also be deemed to have beneficial ownership of the foregoing shares of Common
Stock. Paul Kanavos, as President of FLR, FLP, and FLG, and as a member of FLP
with an approximate 13.6% equity interest in FLP that he holds solely and an
approximate 9% equity interest in FLP that he holds jointly with a member of his
family, and as a member of FLG with a 70% equity interest in FLG, may also be
deemed to have beneficial ownership of the foregoing shares of Common Stock.
Pursuant to the Stock Purchase Agreement, Rivacq has agreed to acquire
300,000 shares of Common Stock from the Trust. The closing of such acquisition
is currently scheduled to be held not earlier than January 3, 2006 and not later
than January 10, 2006. Accordingly, Rivacq may be deemed to have beneficial
ownership of such shares of Common Stock, which represent approximately 2.4% of
the outstanding shares of Common Stock as of October 31, 2005. SOF Co-Invest, as
the sole member of Rivacq, may also be deemed to have beneficial ownership of
the foregoing shares of Common Stock. Each of SOF VII and Hotel Fund, as the
sole members of SOF Co-Invest, may also be deemed to have beneficial ownership
of the foregoing shares of Common Stock. Each of the Opportunity Funds, as the
sole members of SOF VII, may also be deemed to have beneficial ownership of the
foregoing shares of Common Stock. Each of the Hospitality Funds, as the sole
members of the Hotel Fund, may be deemed to have beneficial ownership of the
foregoing shares of Common Stock. SOF VII Management, as the general partner of
each of the Opportunity Funds, may also be deemed to have beneficial ownership
of the foregoing shares of Common Stock. Hotel Management, as the general
partner of each of the Hospitality Funds, may also be deemed to have beneficial
ownership of the foregoing shares of Common Stock. SCGG, as the managing member
of SOF VII Management and Hotel Management, may also be deemed to have
beneficial ownership of the foregoing shares of Common Stock. Barry S.
Sternlicht, as the Chairman and CEO of SCGG and CEO of SOF VII and Hotel Fund,
may also be deemed to have beneficial ownership of the foregoing shares of
Common Stock. Mr. Sternlicht also directly holds 123,200 shares of Common Stock,
which represents approximately 1.0% of the outstanding shares of Common Stock as
of October 31, 2005, and which, together with the 300,000 shares of Common Stock
that he may be deemed to own beneficially in his capacity as Chairman and CEO of
SCGG and as an executive officer of certain affiliates as described above,
constitutes approximately 3.4% of the outstanding shares of Common Stock as of
October 31, 2005.
Pursuant to the Stock Purchase Agreement, HDG has agreed to acquire
300,000 shares of Common Stock from the Trust. The closing of such acquisition
is currently scheduled to be held not earlier than January 3, 2006 and not later
than January 10, 2006. Accordingly, HDG may be deemed to have beneficial
ownership of such shares of Common Stock, which represent approximately 2.4% of
the outstanding shares of Common Stock as of October 31, 2005. LAMB Partners, as
a member of HDG with an approximate 76% equity interest in HDG, may also be
deemed to have beneficial ownership of the foregoing shares of Common Stock.
LAMB, LLC, as the managing partner of LAMB Partners, may also be deemed to have
beneficial ownership of the foregoing shares of Common Stock. Greg Carlin, as a
manager of HDG, may also be deemed to have beneficial ownership of the foregoing
shares of Common Stock. Neil Bluhm, as a manager of HDG and as managing member
of LAMB, LLC, may also be deemed to have beneficial ownership of the foregoing
shares of Common Stock.
ISLE holds 75,300 shares of Common Stock, which represent approximately
0.6% of the outstanding shares of Common Stock as of October 31, 2005.
Accordingly, Greg Carlin, as the manager of ISLE, may be deemed to have
beneficial ownership of the foregoing shares of Common Stock, and which,
together with the 300,000 shares of Common Stock that he may be deemed to own
beneficially in his capacity as a manager of HDG, constitutes approximately 3%
of the outstanding shares of Common Stock as of October 31, 2005.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 37 OF 42 PAGES
---------------------------- -------------------------
1. On December 27, 2005, FLR, FLP, MJX, FLG, SREV, Robert Sillerman, Paul
Kanavos, Brett Torino, Rivacq, SOF Co-Invest, SOF VII, Hotel Fund, Opportunity
Fund VII-A, Opportunity Fund VII-B, Opportunity Fund VII-D, Opportunity Fund VII
D-2, Hospitality Fund I-1, Hospitality I-2, SOF VII Management, Hotel
Management, SCGG, Barry S. Sternlicht, HDG, LAMB Partners, LAMB, LLC, ISLE, Greg
Carlin and Neil Bluhm entered into a Joint Filing Agreement (the "Joint Filing
Agreement"). A copy of the Joint Filing Agreement is filed herewith as Exhibit
10.1 and incorporated herein by reference.
2. On December 22, 2005, FLR, Rivacq and HDG entered into the Joint
Bidding Agreement. A copy of the Joint Bidding Agreement is filed herewith as
Exhibit 10.2 and incorporated herein by reference.
3. On December 22, 2005, FLR, Rivacq and HDG entered into the Stock
Purchase Agreement with Westerman and the Trust. A copy of the Stock Purchase
Agreement is filed herewith as Exhibit 10.3 and incorporated herein by
reference.
Except as described herein, none of the Reporting Persons has any
contracts, arrangements, understandings or relationships (legal or otherwise)
with any person with respect to any securities of the Company, including but not
limited to the transfer or voting of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or losses, or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following documents are hereby filed as exhibits:
Exhibit 10.1 Joint Filing Agreement, dated as of December 27, 2005,
among Flag Luxury Riv, LLC, Flag Luxury Properties, LLC,
MJX Flag Associates, LLC, Flag Leisure Group, LLC,
Sillerman Real Estate Ventures, LLC, Robert Sillerman,
Paul Kanavos, Brett Torino, Rivacq LLC, SOF U.S. Hotel
Co-Invest Holdings, L.L.C., SOF VII US Hotel Holdings,
L.L.C., I-1/I-2 U.S. Holdings, L.L.C., Starwood Global
Opportunity Fund VII-A, L.P., Starwood Global Opportunity
Fund VII-B, L.P., Starwood U.S. Opportunity Fund VII-D,
L.P., Starwood U.S. Opportunity Fund VII D-2, L.P.,
Starwood Capital Hospitality Fund I-1, L.P., Starwood
Capital Hospitality Fund I-2, L.P., SOF-VII Management,
L.L.C., SCG Hotel Management, L.L.C., Starwood Capital
Group Global, LLC, Barry S. Sternlicht, High Desert
Gaming, LLC, LAMB Partners, LAMB, LLC, ISLE Investors,
LLC, Greg Carlin, and Neil Bluhm (together the "Reporting
Persons").
Exhibit 10.2 Join Bidding Agreement, dated as of December 22, 2005,
among Flag Luxury Riv, LLC, Rivacq LLC and High Desert
Gaming, LLC.
Exhibit 10.3 Stock Purchase Agreement, dated as of December 22, 2005,
among Flag Luxury Riv, LLC, Rivacq LLC, High Desert
Gaming, LLC, William L. Westerman and The William L.
Westerman 2004 Revocable Family Trust.
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 38 OF 42 PAGES
---------------------------- -------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Flag Luxury Riv, LLC
By: /s/ Paul Kanavos
-------------------------------------
Name: Paul Kanavos
Title: President
Flag Luxury Properties, LLC
By: /s/ Paul Kanavos
-------------------------------------
Name: Paul Kanavos
Title: President
MJX Flag Associates, LLC
By: /s/ Robert Sillerman
-------------------------------------
Name: Member
Title: Robert Sillerman
Flag Leisure Group, LLC
By: /s/ Paul Kanavos
-------------------------------------
Name: Paul Kanavos
Title: President
Sillerman Real Estate Ventures, LLC
By: /s/ Robert Sillerman
-------------------------------------
Name: Robert Sillerman
Title: Member
Robert Sillerman
/s/ Robert Sillerman
-----------------------------------------
Paul Kanavos
/s/ Paul Kanavos
-----------------------------------------
Brett Torino
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 39 OF 42 PAGES
---------------------------- -------------------------
/s/ Brett Torino
Rivacq LLC
By: SOF U.S. Hotel Co-Invest Holdings,
----------------------------------
L.L.C.
----------------------------------
By: SOF VII U.S. Hotel Holdings,
-----------------------------------
L.L.C.
-----------------------------------
By: /s/ Barry S. Sternlicht
--------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
By: I-1/I-2 U.S. Holdings, L.L.C.
-----------------------------------
By: /s/ Barry S. Sternlicht
--------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SOF U.S. Hotel Co-Invest Holdings, L.L.C.
By: SOF VII U.S. Hotel Holdings, L.L.C.
-------------------------------------------
By: /s/ Barry S. Sternlicht
---------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
By: I-1/I-2 U.S. Holdings, L.L.C.
By: /s/ Barry S. Sternlicht
---------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SOF VII U.S. Hotel Holdings, L.L.C.
By: /s/ Barry S. Sternlicht
--------------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
I-1/I-2 U.S. Holdings, L.L.C.
By: /s/ Barry S. Sternlicht
--------------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 40 OF 42 PAGES
---------------------------- -------------------------
Starwood Global Opportunity Fund VII-A, L.P.
By: /s/ SOF-VII Management, L.L.C.
-----------------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
Starwood Global Opportunity Fund VII-B, L.P.
By: /s/ SOF-VII Management, L.L.C.
-----------------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
Starwood U.S. Opportunity Fund VII-D, L.P.
By: /s/ SOF-VII Management, L.L.C.
-----------------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
Starwood U.S. Opportunity Fund VII D-2, L.P.
By: /s/ SOF-VII Management, L.L.C.
-----------------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 41 OF 42 PAGES
---------------------------- -------------------------
Starwood Capital Hospitality Fund I-1, L.P.
By: /s/ SCG Hotel Management, L.L.C.
---------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
-------------------------------------
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
Starwood Capital Hospitality Fund I-2, L.P.
By: /s/ SCG Hotel Management, L.L.C.
---------------------------------
Its general partner
By: Starwood Capital Group Global, L.L.C.
-------------------------------------
Its General manager
By: /s/ Barry S. Sternlicht
-------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SOF-VII Management, L.L.C.
By: Starwood Capital Group Global, L.L.C.
-------------------------------------
Its General manager
By: /s/ Barry S. Sternlicht
--------------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SCG Hotel Management, L.L.C.
By: Starwood Capital Group Global, L.L.C.
-------------------------------------
Its General manager
By: /s/ Barry S. Sternlicht
--------------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
Starwood Capital Group Global, LLC
By: /s/ Barry S. Sternlicht
-----------------------------------------
Name: Barry S. Sternlicht
Title: Chief Executive Officer
SCHEDULE 13D
---------------------------- -------------------------
CUSIP NO.: 769627100 PAGE 42 OF 42 PAGES
---------------------------- -------------------------
Barry S. Sternlicht
/s/ Barry S. Sternlicht
--------------------------
High Desert Gaming, LLC
By: /s/ Greg Carlin
--------------------
Name: Greg Carlin
Title: Manager
LAMB Partners
By: /s/ LAMB, LLC
--------------------
Its general partner
By: /s/ Neil Bluhm
--------------------------------
Name: Neil Bluhm
Title: Managing Member
LAMB, LLC
By: /s/ Neil Bluhm
----------------------------------
Name: Neil Bluhm
Title: Managing Member
ISLE Investors, LLC
By: /s/ Greg Carlin
----------------------------------
Name: Greg Carlin
Title: Manager
Greg Carlin
/s/ Greg Carlin
----------------------------------------
Neil Bluhm
/s/ Neil Bluhm
----------------------------------------
Dated: December 27, 2005