The oldest operating casino on the Las Vegas Strip has been sold and will soon be scheduled for implosion. The Las Vegas Convention and Visitors Authority board of directors agreed to purchase the Riviera Casino for $191 million.

The LVCVA plans to close the casino, implode it and use the property as part of the Las Vegas Global Business District.

For now, the Riviera will remain fully operational with an expected closing date of May 4. Scott Menke, Paragon CEO, claimed that the Riviera is currently operating at 80% capacity. The property currently employs close to 1,000 full and part-time workers.