Now it’s only a matter of days until SLS Las Vegas officially has new owners. The Nevada Gaming Commission approved the ownership transfer of resort on the north end of the Strip to The Meruelo Group, billionaire businessman Alex Meruelo’s company that also owns the Grand Sierra in Reno. Last year, Meruelo Group made a deal to purchase the resort, which originally opened in August 2014 after a renovation of the former Sahara, from Stockbridge Capital for an undisclosed amount.
The blessing of the commissioners rolls over ownership of the 1,616-room, three-tower resort and casino, which includes the W Las Vegas, from Stockbridge Capital Group. The acquisition is expected to be completed by the end of March.
Meruelo plans to keep the SLS name for a year while studying whether the brand has name recognition. The Las Vegas Review-Journal reports that the will first study SLS brand recognition before deciding on a name change.
The Las Vegas Review-Journal reports that “Sam by Starck,” the 32-foot tall sculpture from Philippe Starck that sits at the entrance to the resort, will be removed.
Once the Meruelo Group takes over operations of SLS Las Vegas, the company plans to overhaul the hotel rooms, pools, casino floor, and entertainment venues first, pumping $100 million in renovations over the next couple years.
• SLS Closer To Changing Hands [ELV]
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