![]() They invested another $400 million to overhaul the property in a hardscrabble neighborhood several blocks from the most popular casinos on the Las Vegas strip. Nazarian and Stockbridge paid $400 million in 2007 for the iconic Sahara Hotel & Casino, known as a hangout for Rat Packers Frank Sinatra, Dean Martin and Sammy Davis Jr. ![]() “The resort remains a valued member of the expanding collection of SBE branded and managed luxury hotels across the country and the globe,” he said in a statement.įrom the beginning, the project was a long shot. “It is more efficient from a cost and operational standpoint, and will give the SLS Las Vegas flexibility to introduce new brands or restaurants from time to time to further improve guest experience and strengthen financial performance.” “Converting SBE’s current management agreement into a license agreement benefits all parties involved - our valued guests and employees, SBE and Stockbridge,” Terry Fancher, Stockbridge’s executive managing director, said in a statement. ![]()
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