Is this the end of the SLS Casino? After a rocky start, poor revenue, loss of the founder, and pretty much almost dying, the SLS has been sold – and will most likely change names and directions.
Originally broken by Vital Vegas, the claim is now that Meruelo group will buy them. “Alex Meruelo’s company, Meruelo Group, has a number of assets, but the one most relevant to owning a casino on the Las Vegas Strip is Grand Sierra Resort and Casino in Reno, Nevada.”
The property has switched restaurants, closed the buffet and changed entertainment options, but their biggest problem is years away from being fixed.
The SLS opened in Aug. 2014. Stockbridge Capital and SBE Entertainment spent $415 million turning the old Sahara hotel and casino into something stylish and new.
Sam Nazarian, the driving force behind the SLS brand, gave up day-to-day operations of the hotel after flunking a drug test with the Gaming Control Board and admitted he paid millions of dollars in extortion money to a convicted felon.
Stockbridge Capital their current owner, said that they had an official press statement about the sale, and referred me to a contact who has not responded as of publishing.