Transaction still needs regulatory approval
SLS Las Vegas sold to Meruelo Group
Alex Meruelo and Meruelo Group, owners of the Grand Sierra in Reno, have agreed to buy the SLS Las Vegas (fomerly Sahara) for an undisclosed amount.
2017-05-25
Reading time 33 seg
Alex Meruelo and Meruelo Group, owners of the Grand Sierra in Reno, have agreed to buy the SLS Las Vegas (fomerly Sahara) for an undisclosed amount.
“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 reported by Las Vegas Review- Journal.
““The resort, which operates 1,327 rooms, had struggled initially to generate a profit, in part due to its location on the Strip’s northern end.
”
Meruelo Group, a minority-owned and operated holding company founded in 1986, has interests in 35 companies across a host of industries ranging from construction and engineering to hospitality and gaming, media, real estate and food services.
The Grand Sierra in Reno, its only gaming business, has 1,995 guest rooms and a 100,000-square-foot casino.
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