Tuesday, May 23, 2017 | 4:53 p.m.
SLS Las Vegas announced Tuesday it had agreed to be purchased by Alex Meruelo and Meruelo Group, the owners of the Grand Sierra Resort Hotel & Casino in Reno.
Neither company would reveal the purchase price but in a press release announcing the sale said they expect the sale to be completed by the end of the third quarter of this year.
The SLS is owned by Las Vegas Resort Holdings, LLC a private company. The Meruelo Group is a management company that serves 35 companies in seven different industries.
While the SLS was not a newly built resort (it was a renovation of the old Sahara), its reopening in August 2014 was the first major resort happening on the Strip since the Cosmopolitan opened in 2010.
The sale will require regulatory approval, including from the Nevada Gaming Control Board and Nevada Gaming Commission.