"The Sahara is one of the last remaining original properties onthe Las Vegas Strip, and we are thrilled with the possibilitiesthat it presents," says SBE's CEO, Sam Nazarian, in an officialstatement.
Developed in 1952, the Moroccan-style property is the northernmost site on the Las Vegas Strip. The Sahara totals 1,720 rooms andhas been managed by Gordon Gaming since it was acquired by WilliamBennett in 1995 for nearly $200 million. Estimates have Bennetthaving put another $100 million into the property since thattime.
Once the deal closes, SBE will manage the hotel and its food andbeverage operations through its subsidiaries--SBE Hotel Group andSBE Restaurant and Nightlife Groups, respectively. Larry Woolf'sNavegante Group will operate the casino business under a leasearrangement.
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