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Category Archives: Sam Nazarian
Exit SLS, enter Sahara; Seminoles reach Florida accord
Collectors, start gathering those SLS-branded souvenirs while you can. The auguries continue to accumulate that the beloved Sahara identity will be returning to the venerable hotel-casino. The latest sign is the changeover of the loyalty program to Club 52 (from … Continue reading
Posted in Animals, Cordish Co., Florida, history, Marketing, Maryland, MGM Mirage, Pets, Politics, Sahara, Sam Nazarian, Seminole Tribe, SLS Las Vegas, Taxes, The Strip, Tribal
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SLS: What’s in a name?
Quite a lot, from the looks of things. Back in 2014, then-U.S. Sen. Harry Reid (D) prophesied that, in a few years, nobody would be talking about the Sahara anymore; they’d all be talking about SLS Las Vegas. Guess not, … Continue reading
Posted in Foxwoods, Harry Reid, James Packer, Massachusetts, MGM Mirage, Mohegan Sun, Politics, Sahara, Sam Nazarian, SLS Las Vegas, Steve Wynn, The Strip
1 Comment
SLS to get new owner; Boyd outlines strategy
Having failed to reinvent the north end of the Las Vegas Strip as the new place to party heartily, the owners of $415 million SLS Las Vegas are giving up and selling it to a relatively minor player: Meruelo Group. The … Continue reading
Weidner headed to Vietnam?; Nazarian on the rebound
William Weidner hasn’t finished Lucky Dragon Casino yet and he’s already flashing some leg at the Vietnamese government (or so it appears), seeking a $4 billion casino megaresort in Ho Chi Minh City (to most us, Saigon). Financing Lucky Dragon … Continue reading
Posted in Architecture, Boyd Gaming, Hard Rock Hotel, International, Lucky Dragon, Macau, Marketing, Morgans Hotel Group, Palms, Regulation, Sam Nazarian, Station Casinos, Wall Street
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Wynn’s big surprise; T-Mobile disappoints
As though seeking to steal the thunder from T-Mobile Arena, the ever-clever Steve Wynn used yesterday’s earnings call investor showcase to roll out a new project. If you have a spare $500, then use it to play Wynn Golf Club as … Continue reading
Ground shifts on i-gaming in California; T-Mobile’s new trophy
California took one step forward and one step back in the field of Internet gambling. A bill to legalize online poker was scratched from yesterday’s legislative agenda. If it makes you feel any better, the opposition of six major California … Continue reading
Posted in California, Cosmopolitan, Dining, Entertainment, MGM Mirage, Planet Hollywood, PokerStars, Politics, Sam Nazarian, Sports, The Strip
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Adelson’s endurance; Doom for Dotty’s?
Outwardly, Sheldon Adelson maintains an air of placidity regarding business affairs in Macao, where gaming revenue dropped 34% in 2015. However, it can’t much please him to pick up his morning newspaper and read that Wall Street is expecting more of the … Continue reading
Posted in Cosmopolitan, Dotty's, Economy, Macau, Regulation, Sam Nazarian, Sheldon Adelson, Wall Street
1 Comment
Up and down the Strip
SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading
SLS gets new patron; Mixed quarter at Caesars
Revolving doors continue to spin, metaphorically, at SLS Las Vegas. No sooner had Hilton Worldwide dropped the property from its Curio brand but Starwood Resorts Worldwide picked up part of the property and slapped its W hotel escutcheon on it. The … Continue reading
Posted in Harrah's, International, Macau, Marketing, Maryland, Regulation, Sam Nazarian, SLS Las Vegas, Station Casinos, Technology, The Strip
1 Comment
New blows to Adelson, SLS; Seminoles’ air war
Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed Gonzalez’s standing in the case and also ordered Las Vegas Sands to pony up … Continue reading
Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV
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So long, Sammy; DFS gets a wakeup call
As predicted here, Sam Nazarian has liquidated his 10% stake in SLS Las Vegas to majority owner Stockbridge Capital Group. He’ll still get some extra cash out of the deal, which licenses his SLS brand to Stockbridge (although you could … Continue reading
Posted in Aristocrat, G2E, Regulation, Sam Nazarian, SLS Las Vegas, Sports, Wall Street
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Culinary Union declares war on Deutsche Bank; The NFL’s dirty hands
Deutsche Bank, in its role as 25% shareholder in Station Casinos, continues to draw fire from the Culinary Union. Let’s clear up a couple of things first. Yes, the Culinary still has an axe to grind with Station over the … Continue reading
Posted in Culinary Union, Entertainment, Harrah's, history, Oklahoma, Regulation, Sam Nazarian, Sports, Station Casinos, Tamares Group, Tribal
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SLS: Sinking less slowly
Judging by the looks of this going-out-of-business sale at SLS Las Vegas (and the exorcism of the Fred Segal name from the Web site), more rats are scurrying off Sam Nazarian‘s sinking ship. It makes me sorry my wife and … Continue reading
Posted in Sam Nazarian, SLS Las Vegas, The Strip
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Optimism at MGM; SLS: The Unhappy Blob
MGM Resorts International sent CFO Dan D’Arrigo to meet with J.P. Morgan analysts, who found MGM execs in an upbeat mood. “We’d characterize the tone of the meetings as positive and investor interest as high,” wrote analyst Joseph Greff. That’s … Continue reading
SLS: Closed by 2016?
That’s the stark implication of some remarks by owner Stockbridge Capital Partners about SLS Las Vegas, which continues to generate negative return on investment. Howard Stutz took a deep dive into the numbers and he must have required a bathysphere to … Continue reading
Bluhm presses case in Massachusetts; Lawrence Ho tells it like it is
Despite having to wait at least until early next year to start building, a potential Brockton casino could be “up and running by 2018,” sometime in the second quarter, according to Neil Bluhm. “We are shovel-ready to go.” Unfortunately for … Continue reading
SLS: The news just gets worse
Despite SLS Las Vegas having lost $183 million in its first eight months of operation, against pitiful revenues of $88 million, President Scott Kreeger insists that owner Stockbridge Capital is in it for the long haul. It has to be, Sam … Continue reading
Wynn: Massachusetts vs. Boston; Crisis and opportunity at Station
Steve Wynn appears to be losing patience with the obstacles being thrown in his way by seemingly vanquished adversaries in his long fight to get a Boston-area casino. He’s filed a defamation suit against the city, after a lawsuit championed … Continue reading
Posted in Culinary Union, Eldorado Resorts, Election, Georgia, history, International, Massachusetts, MGM Mirage, New York, Politics, Regulation, Sam Nazarian, Slot routes, Station Casinos, Steve Wynn
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What do you do …
… if you’re Curtis “50 Cent” Jackson? Naturally, you throw yourself a birthday party atop The Cromwell, with seemingly half the NBA in attendance. Then you file bankruptcy on Monday, before you’ve even had a chance to sober up. (Geez, better book … Continue reading
Posted in Entertainment, Harrah's, Marketing, Sam Nazarian, SLS Las Vegas, Steve Wynn, The Strip
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SLS: House of Pain
Former Revel President Scott Kreeger, now running SLS Las Vegas, must feel like he’s gone from the frying pan into the fire. An unusually trenchant Howard Stutz column lays out the problems facing the new casino, a hipster joint sitting … Continue reading
Posted in California, Carl Icahn, Dining, Eldorado Resorts, Florida, Fontainebleau, Genting, Marketing, MGM Mirage, New York, Reno, Riviera, Sam Nazarian, SLS Las Vegas, Wall Street
1 Comment