SLS Las Vegas is acquired by Meruelo Group
SLS Las Vegas will be operated by Meruelo Group, owner of Grand Sierra Resort.
US.- SLS Las Vegas Hotel & Casino will now be operated by Meruelo Group, owner of Grand Sierra Resort. The major acquisition was recently announced by Meruelo Group and current operators of the touristic venue, Las Vegas Resort Holdings, in a joint statement. SLS Las Vegas is expecting better business opportunities after failing at achieving positive revenue.
The local press was not able to reveal the amount that Meruelo Group has invested in its agreement with Las Vegas Resort Holdings. The purchase was reviewed by the Californian financial firm, Stockbridge Capital Partners, and it has not been approved by neither Nevada gaming authorities nor economic officials yet.
“This is a once in a lifetime opportunity to acquire a premier gaming property on the world famous Las Vegas Strip,” Meruelo said in a statement. According to Innovate Gaming newspaper, new operators of SLS Las Vegas could change back the name to Sahara, which was the original name of the resort.
The Sahara Hotel & Casino, now known as SLS Las Vegas, offers a 50,000-square-foot casino floor with 600 slot machines and 60 table games, as well as 1,327 modern hotel rooms. However, the location of the venue on the Strip’s northern end would not be suitable to enhance the annual revenues.
