1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

Sam Nazarian and SBE selling SLS stake

Discussion in 'Casino Industry & Development' started by zing, Oct 6, 2015.

Thread Status:
Not open for further replies.
  1. zing

    zing Low-Roller

    Joined:
    Jun 24, 2015
    Messages:
    121
    Trips to Las Vegas:
    9
    Sam Nazarian and his company SBE are selling their ten percent stake in SLS Las Vegas as reported by The Wall Street Journal.

    Stockbridge Capital Partners will be purchasing SBE's stake and will now own 100% of the resort.

    SBE will also be transferring management of the resort to Stockbridge, who will lease the SLS brand from SBE.
     
  2. shifter

    shifter Degenerate Gambler

    Joined:
    Sep 15, 2010
    Messages:
    10,096
    Location:
    At the tables
    Trips to Las Vegas:
    30
    Because it's a dumpster fire.
     
  3. paperposter

    paperposter VIP Whale

    Joined:
    Jul 23, 2011
    Messages:
    5,828
    Location:
    everywhere
    Trips to Las Vegas:
    999
    theres so much shit going on there . its a nitemare
     
  4. JimboS

    JimboS Low-Roller

    Joined:
    Jan 18, 2013
    Messages:
    143
    Location:
    Upstate NY
    Trips to Las Vegas:
    14
    I don't know how they can survive after losing $84 million this year.
     
  5. pleepleus

    pleepleus 2016 - The monkey is back

    Joined:
    Jul 17, 2014
    Messages:
    2,339
    Location:
    Hanging around
    Trips to Las Vegas:
    100
    That's just putting it mildly. Chernobyl comes to mind.
     
  6. Malibugolfer

    Malibugolfer High-Roller

    Joined:
    May 25, 2011
    Messages:
    785
    Trips to Las Vegas:
    100
    Never had a chance with all hat no cattle Sam.
    Stockbridge will keep the brand and it will end up run by a company that has much more experience in hospitality.
     
  7. KevinF2020

    KevinF2020 Low-Roller

    Joined:
    May 27, 2015
    Messages:
    326
    Location:
    Los Angeles
    Trips to Las Vegas:
    40
    If Stockbridge paid SBE more than an expired monorail pass and an IOU for a half eaten PBJ, they got robbed. :rolleyes2:
     
  8. Someone

    Someone High-Roller

    Joined:
    Jun 16, 2012
    Messages:
    694
    Trips to Las Vegas:
    1
    wesss coasss is so yesterday they should have gone with a more hip, cool and "upscale" east coast brand like gansevoort or fontainebleau
     
  9. JeJas

    JeJas VIP Whale

    Joined:
    Dec 6, 2014
    Messages:
    1,167
    Location:
    NY
    Trips to Las Vegas:
    2
    Losing $84 m in just 6 months. That's $14 million per month.
    I don't understand why they decide to keep the SLS name.
     
  10. hammie

    hammie VIP Whale

    Joined:
    Sep 18, 2006
    Messages:
    2,372
    Trips to Las Vegas:
    5
    On the giant SLS marquee out front, about every fourth message mentions the strip is a monorail ride away.
     
  11. pleepleus

    pleepleus 2016 - The monkey is back

    Joined:
    Jul 17, 2014
    Messages:
    2,339
    Location:
    Hanging around
    Trips to Las Vegas:
    100
    Yeah that empty Fontainebleau that is just sitting there that Icahn for but pennies on the dollar is really working.
     
  12. leo21

    leo21 VIP Whale

    Joined:
    Jan 9, 2010
    Messages:
    4,710
    Location:
    Chicago South Suburbs
    Trips to Las Vegas:
    14
    I think that it is probablty cheaper to pay a licensing fee than to rebrand at this time. I bet if they can figure out how to keep the ship running long term. they will rebrand.
     
  13. hammie

    hammie VIP Whale

    Joined:
    Sep 18, 2006
    Messages:
    2,372
    Trips to Las Vegas:
    5
    Yes, I walked by this place several times last week during my stay, very sad with much of the exterior finished yet empty. Icahn seems to be playing the waiting game until Resorts World is closer to completion.
     
  14. paperposter

    paperposter VIP Whale

    Joined:
    Jul 23, 2011
    Messages:
    5,828
    Location:
    everywhere
    Trips to Las Vegas:
    999
    they are going to do focus groups from locals ,using there input trying to save the place.
     
  15. pleepleus

    pleepleus 2016 - The monkey is back

    Joined:
    Jul 17, 2014
    Messages:
    2,339
    Location:
    Hanging around
    Trips to Las Vegas:
    100
    Yeah. I got one of those phone calls. An hour survey for $50 of my time. No thanks.
     
  16. KevinF2020

    KevinF2020 Low-Roller

    Joined:
    May 27, 2015
    Messages:
    326
    Location:
    Los Angeles
    Trips to Las Vegas:
    40
    Haha, you have to admit, some of the Fontainebleau interior fixtures sold at auction look pretty nice... at the Plaza.
     
  17. Rooster0620

    Rooster0620 Low-Roller

    Joined:
    Jan 30, 2015
    Messages:
    122
    Trips to Las Vegas:
    10
    Until Resorts World and Alon breathe life into the North strip, this place is going to remain empty. New owners must be planning to ride it out.
     
  18. MikeOPensacola

    MikeOPensacola VIP Whale

    Joined:
    Sep 26, 2012
    Messages:
    2,956
    Trips to Las Vegas:
    55
    Bingo. That is the only card left in the deck that might save them. Unfortunately for SLS both of those properties are quite far from being completed and bringing more people to the north end of the strip.
     
    Annual Summer Bliss in the Land of Milk and Honey!!!
  19. dmr

    dmr Registered Abuser

    Joined:
    Feb 18, 2011
    Messages:
    4,640
    Location:
    Somewhere in Middle America
    Trips to Las Vegas:
    70
    LOL, but can any of the El-Lay 20-boppers pronounce it? :) :) :)
     
  20. Someone

    Someone High-Roller

    Joined:
    Jun 16, 2012
    Messages:
    694
    Trips to Las Vegas:
    1
    the funny thing is just like sammy n the gadandervorten could not be a part of a licensed casino either......in a marked turn away from the usual CET/CZR made the good decision to just make up their own "luxury brand" with crumsneil and they actually had success with it so far........sure victor d has probably helped with some of that, but it just goes to show that people are not all that attracted to fake east coast or fake west coast and putting sbe, delano, gadanvorten, or fountainblue on your property is pretty much meaningless and is a complete waste of "marketing money" and "licensing fees"

    you are hitting rock bottom when you are a MAJOR casino company and you have gone from fake Egypt and fake France and even fake NY to fake, fake trendy Miami or LA or New York DB factor 10 properties
     
Tags:
Thread Status:
Not open for further replies.