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



SLS Las Vegas happens to be sending out SOS signals ever since it underwent a $415 million renovation less than three years ago. The former famed Sahara Hotel and Casino had been turned into a sleek and resort that is modern’s abbreviated moniker stood for ‘Style, deluxe, Service.’

The happy blob statue may be somewhat sad after learning SLS Las Vegas has been offered.

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 was acquiring SLS Las Vegas for an undisclosed price from Stockbridge Capital Partners.

‘ This is a as soon as in a lifetime opportunity 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 early investor in Qualcomm.

Though Nazarian’s business, SBE Group, had no experience 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 resort that hosted Rat Packers Continue reading