Regulators approve sale of SLS Las Vegas to Meruelo Group

An exterior view of the SLS Las Vegas resort Friday, Sept. 5, 2014.

The purchase of the SLS Las Vegas, which is expected to be completed by the end of the month, today was greenlighted by the Nevada Gaming Commission, according to the Meruelo Group, the company vying to own it.

“We have been looking forward to this day with great enthusiasm,” said Alex Meruelo, principal of the company. “SLS Las Vegas is a fantastic asset with tremendous potential, and we are thrilled to be acquiring the property.”

The Tribute Portfolio Resort-owned property is a 1,616-room, three-tower casino resort, which originally opened in 1952 as the Sahara.

The tentative purchase by the group, which also owns the Grand Sierra Resort Hotel & Casino in Reno, was first announced in May. A possible sale price has not been made public.

"This is a lifetime dream and a rare opportunity to own a property on the Las Vegas Strip,” Meruelo said.