SLS Lands $415 Million in Funding; Plans Fall 2014 Debut

After two years of remaining vacant, the former Sahara may finally forward to become the SLS Vegas. SBE, the hospitality company that now owns the resort, announced that it received $415 million in funding and plans to officially break ground on and open in fall 2014.

This will not be a typical groundbreaking that includes imploding a building or sticking a shovel in the ground. Instead, it involves beginning renovations on the inside of the former Sahara.

SBE originally secured $300 million in financing last April, with the remaining coming from the EB-5 program, enacted by Congress in 1990 to encourage foreign investment into U.S. businesses that would create or save jobs.

When open, SLS plans to offer 1,600 guest rooms, and a collection of restaurants that includes The Bazaar by José Andrés, Katsuya by Starck, Umami Burger and The Griddle Cafe. Also teased, Mercato di Ventro, hot dog stand Papaya King and 800? Neapolitan Pizzeria.

SLS Las Vegas also will feature four nightlife experiences, including a reinvention of SBE's original nightlife venue Shelter and The Sayers Club, a live music venue. The property also will offer a 10,000-square-foot Fred Segal with seven Fred Segal-branded boutiques.

SLS hotels are also in the works in Philadelphia, Seattle, Boston and Houston. SLS Las Vegas will be the largest in the company's portfolio.
· SBE Entertainment Secures Last of $415 Million in Financing [LVRJ]
· All Coverage of SLS [~ELV~]