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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 2
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RIVIERA HOLDINGS CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
769627 10 0
(CUSIP Number)
D. Kerry Crenshaw, Esq.
Clark Hill PLC
500 Woodward Avenue, Suite 3500
Detroit, MI 48226-3435
(313) 965-8266
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
December 31, 2006
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box.|_|
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 769627 10 0
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
DESERT ROCK ENTERPRISES LLC
I.R.S. Identification No.: 20-3404082
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada, United States of America
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7 SOLE VOTING POWER
797,100
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 797,100
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 797,100
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
797,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
797,100
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.39%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 769627 10 0
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
The Derek J. Stevens Trust under agreement dated July 16, 1993
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
164,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 961,100
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 164,000
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
961,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
961,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.71%
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14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 769627 10 0
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Derek J. Stevens
(as trustee of the Derek J. Stevens Trust under agreement dated July 16,
1993)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
164,000
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 961,100
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 164,000
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
961,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
961,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.71%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 769627 10 0
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
The Gregory J. Stevens Trust under agreement dated September 20, 1995
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
90,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 887,100
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 90,000
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
887,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
887,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.11%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 769627 10 0
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Gregory J. Stevens
(as trustee of the Gregory J. Stevens Trust under agreement dated
September 20, 1995)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
90,000
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 887,100
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 90,000
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
887,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
887,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.11%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1. Security and Issuer
No material change. The class of equity securities to which this statement
on Schedule 13D (the "Statement") relates is the common stock, par value $0.001
per share (the "Common Stock"), of Riviera Holdings Corporation, a Nevada
corporation (the "Issuer"), and is being filed pursuant to Rule 13d-1(a) under
the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The
principal executive offices of the Issuer are located at 2901 Las Vegas
Boulevard South, Las Vegas, Nevada 89109.
Item 2. Identity and Background
This Amendment No. 2 amends the Schedule 13D (the "Schedule 13D") filed
with the Securities and Exchange Commission on September 22, 2006 and the
Amendment No. 1 to Schedule 13D ("Amendment No. 1", and collectively with the
Schedule 13D, the "Schedule 13D Filings") filed with the Securities and Exchange
Commission on November 9, 2006, on behalf of Desert Rock Enterprises LLC, a
Nevada limited liability company ("Desert Rock"), the Derek J. Stevens Trust,
under agreement dated July 16, 1993 (a trust formed under the laws of the State
of Michigan for the sole benefit of Derek J. Stevens, the "Derek J. Stevens
Trust"), Derek J. Stevens, as trustee of the Derek J. Stevens Trust, the Gregory
J. Stevens Trust, under agreement dated September 20, 1995 (a trust formed under
the laws of the State of Michigan for the sole benefit of Gregory J. Stevens,
the "Gregory J. Stevens Trust") and Gregory J. Stevens, as trustee of the
Gregory J. Stevens Trust, with respect to the Common Stock of the Issuer. The
five persons are collectively referred to as the "Reporting Persons". The
Reporting Persons are filing jointly and the agreement among the Reporting
Persons to file jointly is attached as Exhibit 6 hereto, and incorporated by
reference herein. Except as specifically provided herein, this Amendment No. 2
does not modify any of the information reported in the Schedule 13D Filings.
Capitalized terms used but not otherwise defined herein shall have the meanings
heretofore ascribed to them in the Schedule 13D Filings.
The principal office of Desert Rock is 3960 Howard Hughes Parkway, Suite
562, Las Vegas, Nevada 89109. The business address of Derek J. Stevens, the
Derek J. Stevens Trust, Gregory J. Stevens the Gregory J. Stevens Trust is 21777
Hoover Road, Warren, MI 48089, United States of America.
The principal business of Desert Rock is that of a limited liability
company, currently focusing on the acquisition and development of real estate,
including casino properties. Derek J. Stevens is the Manager of Desert Rock and
the sole trustee of the Derek J. Stevens Trust. Both the Derek J. Stevens Trust
and the Gregory J. Stevens Trust are members of Desert Rock, and serve as trusts
for Derek J. Stevens and Gregory J. Stevens, respectively. Gregory J. Stevens is
the sole trustee of the Gregory J. Stevens Trust.
During the last five years, neither any Reporting Person nor, to the best
knowledge of any Reporting Person, any person named in this Item 2, has been:
(i) convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), or (ii) has 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
Item 3 is hereby amended and supplemented by adding the following
paragraph:
In acquiring 797,100 shares of the Common Stock of the Issuer prior to
December 31, 2006, Desert Rock expended approximately $16,090,218 of its working
capital. In acquiring 164,000 shares of the Common Stock of the Issuer prior to
December 31, 2006, the Derek J. Stevens Trust expended approximately $3,452,733
of the funds it held in trust. In acquiring 90,000 shares of the Common Stock of
the Issuer prior to December 31, 2006, the Gregory J. Stevens Trust expended
approximately $1,695,447 of the funds it held in trust. Derek J. Stevens and
Gregory J. Stevens are listed on this Amendment No. 2 to Schedule 13D solely in
their capacity as members of Desert Rock as trustees of the Derek J. Stevens
Trust and the Gregory J. Stevens Trust, respectively.
Item 4. Purpose of Transaction
No material change. Desert Rock, the Derek J. Stevens Trust and the
Gregory J. Stevens Trust acquired the shares in order to invest in the Issuer.
The Reporting Persons intend to review from time to time both the Issuer's
business affairs and the business affairs and financial position of Desert Rock.
Based on such evaluation and review, and subject to applicable law and
regulation and depending upon certain factors, including without limitation, the
financial performance of the Issuer, the Reporting Persons may consider from
time to time various strategic alternatives. Such strategic alternatives may
include, among other things, (i) the acquisition of additional shares of Common
Stock or other securities of the Issuer through open market purchases or
otherwise, (ii) the sale of any number of shares of Common Stock or other
securities of the Issuer through the open market or otherwise, (iii)
extraordinary corporate transactions, (iv) a sale or transfer of a material
amount of assets of the Issuer or any of its subsidiaries, or (v) any other of
the matters described in clauses (a) through (j) of Item 4 of Schedule 13D.
As part of the Reporting Persons' ongoing review of their investment in
the Common Stock of the Issuer, each and/or all of the Reporting Persons will
from time to time hold talks or discussions with and respond to inquiries from
various parties, including, without limitation, the Issuer's Board of Directors,
management or representatives, other shareholders and other persons or entities
regarding the Issuer's affairs and strategic alternatives.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and supplemented by adding the following
paragraph:
Based upon the Issuer's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2006, there were 12,463,755 shares of Common Stock
outstanding as of November 1, 2006. Based on the foregoing, the 797,100 shares
of Common Stock beneficially owned by Desert Rock represent approximately 6.39%
of the Common Stock issued and outstanding (the "Desert Rock Shares"), the
164,000 shares of Common Stock directly owned by the Derek J. Stevens Trust
represent approximately 1.3% of the Common Stock issued and outstanding (the
"Derek J. Stevens Trust Shares"), and the 90,000 shares of Common Stock directly
owned by the Gregory J. Stevens Trust represent approximately 0.7% of the
Commons Stock issued and outstanding (the "Gregory J. Stevens Trust Shares").
Collectively, the 1,051,100 shares beneficially owned by the Reporting Persons
represents approximately 8.43% of the Common Stock issued and outstanding (the
"Subject Shares"). The Subject Shares are comprised of the Desert Rock Shares,
the Derek J. Stevens Trust Shares and the Gregory J. Stevens Trust Shares.
Desert Rock will have the power to vote or to direct the vote of (and the
power to dispose or direct the disposition of) the Desert Rock Shares. As
members of Desert Rock, the Derek J. Stevens Trust and the Gregory J. Stevens
Trust may be deemed to have the shared power to vote or direct the vote of (and
the shared power to dispose or direct the disposition of) the Desert Rock
Shares, and as Manager of Desert Rock, Derek J. Stevens may be deemed to have
the shared power to vote or direct the vote of (and the shared power to dispose
or direct the disposition of) the Desert Rock Shares. None of the Derek J.
Stevens Trust, the Gregory J. Stevens Trust, Derek J. Stevens or Gregory J.
Stevens owns any of the Desert Rock Shares and each such entity and/or
individual disclaims any beneficial ownership of the Desert Rock Shares (and any
shares of Common Stock held by Desert Rock).
The Derek J. Stevens Trust will have the power to vote or to direct the
vote of (and the power to dispose or direct the disposition of) the Derek J.
Stevens Trust Shares. As trustee of the Derek J. Stevens Trust, Derek J. Stevens
may be deemed to have the shared power to vote or direct the vote of (and the
shared power to dispose or direct the disposition of) the Derek J. Stevens Trust
Shares. Derek J. Stevens does not own any of the Derek J. Stevens Trust Shares,
and disclaims any beneficial ownership of the Derek J. Stevens Trust Shares.
The Gregory J. Stevens Trust will have the power to vote or to direct the
vote of (and the power to dispose or direct the disposition of) the Gregory J.
Stevens Trust Shares. As trustee of the Gregory J. Stevens Trust, Gregory J.
Stevens may be deemed to have the shared power to vote or direct the vote of
(and the shared power to dispose or direct the disposition of) the Gregory J.
Stevens Trust Shares. Gregory J. Stevens does not own any of the Gregory J.
Stevens Trust Shares, and disclaims any beneficial ownership of the Gregory J.
Stevens Trust Shares.
Derek J. Stevens does not personally own any shares of the Common Stock of
the Issuer directly. By virtue of Derek J. Stevens' position as the Manager of
Desert Rock, and as trustee of the Derek J. Stevens Trust (which trust is also a
member of Desert Rock), Derek J. Stevens may be deemed to have the shared power
to vote or direct the
vote of (and the shared power to dispose or direct the disposition of) the
Desert Rock Shares and/or the Derek J. Stevens Trust Shares. Derek J. Stevens
disclaims any beneficial ownership of any of the Subject Shares.
Gregory J. Stevens does not personally own any shares of the Common Stock
of the Issuer directly. By virtue of Gregory J. Stevens' position as the trustee
of the Gregory J. Stevens Trust (which trust is also a member of Desert Rock),
Gregory J. Stevens may be deemed to have the shared power to vote or direct the
vote of (and the shared power to dispose or direct the disposition of) the
Desert Rock Shares and/or the Gregory J. Stevens Trust Shares. Gregory J.
Stevens disclaims any beneficial ownership of any of the Subject Shares.
As of the date hereof, neither any Reporting Person, nor to the best
knowledge of any Reporting Person, any of the persons set forth in Item 2, owns
any shares of the Common Stock of the Issuer other than the Subject Shares.
Within the last 60 days since the date of the filing of this Amendment No.
2, no transactions in shares of Common Stock of the Issuer were effected by any
Reporting Person, or to the best knowledge of any Reporting Person, any of the
persons set forth in Item 2.
No person other than the Reporting Persons has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale or,
the Subject Shares.
Clause (e) of Item 5 of Schedule 13D is not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
No material change. Except for the matters described herein, neither the
Reporting Persons nor, to the best knowledge of any Reporting Person, any of the
person listed in Item 2, has any contract, arrangement, understanding or
relationship with any person with respect to any securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
EXHIBIT 1 Power of Attorney, granted by Derek J. Stevens, relating to Desert
Rock Enterprises LLC, in favor of the signatories hereto, dated
September 20, 2006.
EXHIBIT 2 Power of Attorney, granted by Derek J. Stevens, relating to the
Derek J. Stevens Trust, in favor of the signatories hereto, dated
September 20, 2006.
EXHIBIT 3 Power of Attorney, granted by Gregory J. Stevens, relating to the
Gregory J. Stevens Trust, in favor of the signatories hereto, dated
September 20, 2006.
EXHIBIT 4 Power of Attorney, granted by Derek J. Stevens in favor of the
signatories hereto, dated September 20, 2006.
EXHIBIT 5 Power of Attorney, granted by Gregory J. Stevens in favor of the
signatories hereto, dated September 20, 2006.
EXHIBIT 6 Joint Filing Agreement, by and among the Reporting Persons, dated
September 20, 2006.
Signatures.
After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each of the undersigned, severally and not jointly,
certifies that the information set forth in this statement is true, complete and
correct. Powers of Attorney, dated September 20, 2006, granted by Derek J.
Stevens, on behalf of Desert Rock Enterprises LLC, the Derek J. Stevens Trust
and himself individually, in favor of D. Kerry Crenshaw, and granted by Gregory
J. Stevens on behalf of the Gregory J. Stevens Trust and himself individually,
in favor of D. Kerry Crenshaw, are attached hereto as Exhibits 1, 2, 3, 4 and 5,
and incorporated herein by reference.
February 14, 2007
Date
DESERT ROCK ENTERPRISES LLC
/s/ Derek J. Stevens
-----------------------------------
By: Derek J. Stevens, its Manager
DEREK J. STEVENS
/s/ Derek J. Stevens
-----------------------------------
THE DEREK J. STEVENS TRUST, under agreement dated July 16, 1993
/s/ Derek J. Stevens
-----------------------------------
By: Derek J. Stevens, its Trustee
THE GREGORY J. STEVENS TRUST, under agreement dated September 20, 1995
/s/ Gregory J. Stevens
-----------------------------------
By: Gregory J. Stevens, its Trustee
GREGORY J. STEVENS
/s/ Gregory J. Stevens
-----------------------------------
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).