Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas is sending out SOS signals from the time it underwent a $415 million renovation less than 36 months ago. The previous famed Sahara Hotel and Casino had been turned in to a sleek and resort that is modern’s abbreviated moniker stood for ‘Style, Luxury, provider.’

The blob that is happy may be only a little sad after learning SLS Las Vegas has been offered.

It did not work. This week, the Meruelo Group, a California-based holdings company that owns the Grand Sierra Resort and Casino in Reno, announced it absolutely was acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.

‘ This will be a when in a lifetime possibility to acquire a premier gaming home on the planet famous nevada Strip,’ Meruelo Group Chairman Alex Meruelo said in a statement.

The privately held Meruelo Group portfolio includes banking and financial services, hotels, food establishments, and a Spanish-language television station in Los Angeles in addition to its Reno casino and future stake in Las Vegas.

Storied History Disrupted

SLS was envisioned by Sam Nazarian, whose daddy made the household’s fortune from being an early investor in Qualcomm.

Though Nazarian’s business, SBE Group, had no experience in owning or operating a resort that is major it bought the Sahara in 2007, along side Stockbridge, for somewhere between $300 and $400 million.

Roughly five years later, the resort that hosted Rat Packe Continue lendo “Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner”