RIVIERA ANNOUNCES TERMINATION OF MANAGEMENT AGREEMENT




                                                                    Exhibit 99.3
                                                                    ------------


                                  Press Release


FOR IMMEDIATE RELEASE:

              RIVIERA ANNOUNCES TERMINATION OF MANAGEMENT AGREEMENT

LAS VEGAS, NV - September 3, 1999 - Riviera Holdings  Corporation  (AMEX:  RIV),
announced    today   that   the   agreement,    under   which   Riviera   Gaming
Management-Elsinore,   Inc.  a  wholly  owned  subsidiary  of  Riviera  Holdings
Corporation, manages the Four Queens Hotel and Casino would terminate at the end
of 1999.

Elsinore Corporation,  which owns the Four Queens Hotel and Casino also announce
that Dual  Cooper,  would  assume the  position  of General  Manager of the Four
Queens effective immediately.

William L. Westerman,  Chairman and Chief Executive  Officer of Riviera Holdings
Corporation  said that he and the  Riviera  team would  cooperate  with the Four
Queens executives in effecting an orderly transition.

About Riviera Holdings:
Riviera  Holdings  Corporation owns and operates the Riviera Hotel and Casino on
the Las Vegas Strip and is developing a casino in Black Hawk, Colorado.  Riviera
is traded on the American Stock Exchange under the symbol RIV.