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

Posted by on Mar 16, 2020 in Online Casino Real Money No Deposit Australia | Comments Off

SLS Las Vegas has been sending out SOS signals from the time it underwent a $415 million renovation less than three years ago. The former famed Sahara Hotel and Casino had been turned as a sleek and resort that is modern’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 has 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 is a as soon as in a lifetime possibility to acquire a premier gaming property on the planet Las that is famous Vegas,’ Meruelo Group Chairman Alex Meruelo said in a statement.

In addition to its Reno casino and future stake in Las Vegas, the independently held Meruelo Group portfolio includes banking and financial services, accommodations, food establishments, and a Spanish-language television section in Los Angeles.

Storied History Disrupted

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

Though Nazarian’s business, SBE Group, had no expertise in getting 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

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