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US – SLS bought by Reno casino owner

By - 26 May 2017

Stockbridge Capital Partners has agreed to sell the SLS Las Vegas to Meruelo Group, owners of the Grand Sierra in Reno, for an undisclosed amount.

The resort operates a 50,000 sq ft floor casino with 600 slot machines and 60 table games alongside 1,327 rooms. Its location on the Strip’s northern end saw it struggle when it first opened but the hope is that as more properties open around it, footfall will increase.

Meruelo Group is a minority-owned and operated holding company founded in 1986. It 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 has 1,995 guest rooms and a 100,000-square-foot casino.

Group owner Alex Meruelo said: “This is a once in a lifetime opportunity to acquire a premier gaming property on the world famous Las Vegas Strip.”

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