The Sahara Hotel and Casino is getting new owners. California-based SBE Entertainment Group LLC and Stockbridge Real Estate Funds will acquire the property from Gordon Gaming Group for an undisclosed amount.
Once the transaction closes, SBE will manage the hotel and its food and beverage operations through its subsidiaries. Larry Woolf's Navegante Group will operate the casino business under a lease arrangement.
The new owners also plan to reposition the property once it takes control. Specifics are not available regarding this planned repositioning but SBE has said it will involve updating the property for "a new generation of travelers, while preserving its existing scale."
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