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 was sending out SOS signals from the time it underwent a $415 million renovation less than 36 months ago. The former famed Sahara Hotel and Casino was turned in to a sleek and modern resort that’s abbreviated moniker stood for ‘Style, Luxury, Service.’

The happy blob statue may be 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 was acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.

‘ This is a once in a lifetime opportunity to acquire a premier gaming property on the world 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, nevada, the privately held Meruelo Group portfolio includes banking and financial services, accommodations, food establishments, and a Spanish-language television place in Los Angeles.

Storied History Disrupted

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

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

Roughly five years later on, the resort that hosted Rat Packers in its early t 继续阅读Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner