“We overpaid for it and the previous owners had totally given up on taking care of the property. They stopped replacing lightbulbs, they stopped putting in air-conditioning filters. When a filter was clogged it was just removed and no replacement filter was put in. The kitchens didn’t work, there were ovens that didn’t have any doors on them and the rooms were completely disgusting.” — Diana Bennett, daughter of Bill Bennett, on what it was like to buy the Sahara from Paul & Sue Lowden. From the new book, Forgotten Man by Jack Sheehan.
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I’m not holding my breath for the book. Amazon says “Ships within 1 to 4 months.”
Maybe hotels should offer guests a choice of three types of rooms: Non-smoking; Smoking/Tobacco; Smoking/Other. 😉
I remember making some sales calls at the Sahara when I sold printing for American Printing back sometimes in the late 90’s. I wandered around the casino looking for the marketing department and left some information a couple of times and they never called back. I ate lunch at the buffet (it was cheap, probably around $5.99 or so) and it was bad. The buffet area was pretty empty and I could see why. The casino was also pretty empty and rundown. It kind of reminded of Nevada Palace (RIP) out on Boulder Highway.
How many chickens did it cost the guy? I do want to add that the employees of the Sahara were extra friendly and nice on my last visit. They had $3 craps with five times odds. Games like that are worth risking brain damage from the second hand smoke.
Not to worry, Kerr. A copy will soon be available on eBay.
Mike, Bill Bennett paid $193 million (in 1995 dollars) for the Sahara — a huge markup relative to what Paul Lowden shelled out for it in 1982 ($50 million). Now, all we need to do is find the price of poultry in 1995 and adjust for inflation …
He paid $193 million, and his family sold it for $800 million 12 years later, so it was a pretty good investment.
You can get the book now from Stephens Press.
His family did sell it for $800 million, but he had invested all (or almost all) he had made off the Mandalay sell out, If I remember correctly. Somethng like $300-400 million after he bought it?
Kerr…I got the same message from Amazon. Glad I did not ask for it for Christmas!
The last time I was inside the Sahara, was before it was listed for sale (and eventually Sold). I was with a potential buyer client as we walked through the entire property. He had hoped to find a gem behind the lack of income. But, he became so discouraged with the lack of preventive maintenance, that he said that anyone who paid what they were asking would be a fool.
Given that current Sahara owner Sam Nazarian actually thought he could get $200 room nights from his patrons, “fool” may be right on the money, so to speak.