New owner at SLS Las Vegas

The Nevada Video gaming Commission has approved the ownership transfer of SLS Las Vegas to The Meruelo Group. The casino-hotel built on the bones of the Saraha was formerly owned by Stockbridge Capital Group. The Meruelo Group adds the 1,616-room, three-tower resort-casino, including the W Las Vegas to its casino holdings that include the Grand Sierra Resort in Reno, NV.

“We have actually been anticipating this day with great enthusiasm,” said Alex Meruelo, Principal of The Meruelo Group. “SLS Las Vegas is a wonderful property with remarkable capacity, and we are thrilled to be obtaining the home. This is a life time dream and an uncommon chance to own a property on the Las Vegas Strip.”

The Meruelo Group will end up being the only privately held business to own residential or commercial properties in both Reno and Las Vegas. The business bought Grand Sierra Resort and Gambling Establishment in 2011, quickly transforming the property into a vibrant, lucrative resort-casino. “The timing could not be much better for this acquisition,” said Mr. Meruelo. “There is roughly $10 billion of planned investment and growing energy on the North Las Vegas Strip.”

The Meruelo Group prepares to invest approximately $100 million in upgrading, renovating, and improving the residential or commercial property. They plan to refurbish the rooms, pools, gambling establishment floor and entertainment locations. The company tells the Las Vegas Review-Journal that they plan to keep the SLS name for another year. In that time they will check out other alternatives.

The first modification most visitors will observe is that the 32-foot tall statue by the Vegas Strip will boil down. The abstract statue called “Sam by Starck” was conceptualized by artist Philippe Starck. There are no plans for a future home for the statue. The Meruelo Group hasn’t announced a date when they will get rid of Sam.

Details on a lot of particular upgrades are not yet offered. However, a spokesperson for The Meruelo Group states they prepare to brighten up the very dark gambling establishment floor. They’re also preparing on including new slot makers to a huge gaming floor. The previous owner of SLS Las Vegas appeared to have an issue producing a comfortable circulation in the casino that encouraged visitors to take a trip from the Vegas Strip entryway to the Paradise Avenue entryway. It will be fascinating to see how they manage this job.

Do not expect to see a lot of major modifications at SLS Las Vegas right away. The financial investment plan is long-lasting and will take place over the next number of years. It would be good to see SLS Las Vegas become a great value hotel. Much of the Vegas Strip gambling establishments are updating and trying to fetch greater costs with higher-end features.

This bettor hopes they will keep the 10x craps odds, eliminate all 6:5 blackjack, and upgrade at least a few of the video poker machines to have full-pay returns for quarter denomination players. While there are rumors floating around about the residential or commercial property, there have been none of the gaming rules and odds.

Lastly, it would great to see The Meruelo Group bring the Club Grand loyalty club to SLS Las Vegas. Not only is this a rewarding club however it would offer a direct connect to Reno for locals and tourists that enjoy the Las Vegas casino.

Source

http://www.travelvegas.com/blog/new-owner-at-sls-las-vegas/

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