Thursday, July 11, 1996 | 11:59 a.m.
SUN STAFF REPORTS
Arthur Waltzman, an ex-Las Vegas casino executive who was credited with pulling the Riviera hotel-casino out of bankruptcy but left after the Strip resort could not break free of its financial woes in the early 1990s, has died. He was 68.
Waltzman, a longtime associate of former Riviera owner Meshulam Riklis, died July 4 in Boston.
Private funeral services were held Friday in Boston, where Waltzman was a partner in a certified public accounting firm.
Waltzman, who also was chief executive officer at the Sands hotel-casino from 1992 until May of this year, took over as president of the Riviera in 1984. It was placed into Chapter 11 bankruptcy and he managed to get it out.
Waltzman, promoted to chairman and cheif executive officer in 1989, then oversaw a $200 million expansion of the resort, including erection of a 25-story tower.
However, by late 1991, the hotel had failed to make several $4 million monthly payments on secured mortgage bonds and again filed for Chapter 11 protection. The Brooklyn-born executive left the resort in January 1992.
Waltzman was survived by his wife, Tami Waltzman, sons Alan, Mark and Scott Waltzman, all of Boston; and a brother, Herb Waltzman, of Laguna Niguel, Calif.
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