
SLS Las Vegas has been sending out SOS signals ever since it underwent a $415 million renovation less than 36 months ago. The previous famed Sahara Hotel and Casino was turned right into a sleek and modern resort that’s abbreviated moniker stood for ‘Style, deluxe, provider.’
The blob that is happy could be only a little sad after learning SLS Las Vegas has been sold.
It didn’t 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 an undisclosed price from Stockbridge Capital Partners.
‘ This is a once in a lifetime possibility to acquire a premier gaming home on the entire world Las that is famous Vegas,’ 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 family’s fortune from being an investor that is early Qualcomm.
Though Nazarian’s company, SBE Group, had no expertise in getting or operating a major resort, it bought the Sahara in 2007, along with Stockbridge, for somewhere between $300 and $400 million.
Roughly five years later on, the resort that hosted Rat Packer Continue reading “Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner”