Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach will probably make it extremely difficult for a casino to take a foothold in the seaside island city. Late week that is last a special meeting, the town payment voted unanimously in support of two ordinances that would ban all future efforts to get gambling into Miami Beach.

Miami Beach won’t be welcoming a casino to its shores any time in the future, as new town ordinances will block gambling projects from moving ahead.

The state senate’s consideration of expanding gambling and authorizing commercial casinos in South Florida has spurred local governments towards taking their own proactive measures though politicians in Tallahassee failed to reach a new gaming compact with the powerful Seminole Tribe during the 2017 legislative calendar.

Miami Beach first voted in early May to talk about adopting new land-use laws that bar gambling venues within city limits. On May 13, the commission ratified two ‘future land use element’ chapters that mandate that ‘All casino and gambling operations … are hereby prohibited in every land use category within the populous City of Miami Beach.’

No Miami (Beach) Vice

Miami Beach is famed for the Art Deco streets, scantily-attired sunbathers, and nightlife that is flashy. But when it involves gambling, it’s no dice for South Beach residents and visitors.

In an extended report, the commission cited several reasons for voting to block future gambl Continue reading “Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling”

Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas happens to be sending out SOS signals ever since it underwent a $415 million renovation less than 3 years ago. The previous famed Sahara Hotel and Casino was turned in to a sleek and modern resort that’s abbreviated moniker stood for ‘Style, Luxury, Service.’

The blob that is happy could be somewhat sad after learning SLS Las Vegas has been offered.

It did not work. This week, the Meruelo Group, a California-based holdings company that has the Grand Sierra Resort and Casino in Reno, announced it had been acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.

‘ This will be a as soon as in a lifetime possibility to acquire a premier gaming home on the world famous Las Vegas Strip,’ Meruelo Group Chairman Alex Meruelo said in a statement.

In addition to its Reno casino and future stake in vegas, the independently held Meruelo Group portfolio includes banking and financial solutions, hotels, food establishments, and a Spanish-language television station in Los Angeles.

Storied History Disrupted

SLS was envisioned by Sam Nazarian, whose dad made the family members’s fortune from being an investor that is early Qualcomm.

Though Nazarian’s company, SBE Group, had no expertise in possessing or operating a resort that is major it bought the Sahara in 2007, along side Stockbridge, for somewhere between $300 and $400 million.

Roughly five years later on, the resort that host Continue reading “Distressed SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner”