Alex Meruelo, Meruelo Group agree to purchase SLS Las Vegas
Alex Meruelo and Meruelo Group, owners of the Grand Sierra Resort & Casino in Reno, have agreed to purchase SLS Las Vegas from Las Vegas Resort Holdings LLC.
Terms of the deal were not disclosed. The transaction is expected to be completed in the third quarter of 2017 subject to required approvals.
Demolition will be completed in three phases: asbestos abatement, interior demolition and exterior demolition. The first two phases have already begun inside the 150,000-square-foot retail location formerly known as Shoppers Square; the first visual of outside demolition will be in early October on the northwest corner of the project.