SLS Las Vegas has been sending out SOS signals ever since it underwent a $415 million renovation less than three years ago. The former famed Sahara Hotel and Casino was turned into a sleek and resort that is modern’s abbreviated moniker stood for ‘Style, Luxury, provider.’
The blob that is happy might be just a little 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 absolutely was acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.
‘ This is a once in a lifetime possibility to acquire a premier gaming property 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 dad made the household’s fortune from being an investor that is early Qualcomm.
Though Nazarian’s business, SBE Group, had no experience in owning 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, the resort that hosted Rat Read More