Las Vegas Sahara Hotel and Casino is a 59 year old hotel on the Las Vegas Strip, and according to the news sources it will be shutting down permanently. This news about Las Vegas Sahara Hotel and Casino was announced on Friday. The owners and shareholders of the iconic Sahara Hotel and Casino alleged that as of May 16th, 2011, the 1,720 rooms of Sahara Hotel and Casino will be closed for business.
The Sahara Casino from Sahara Hotel and Casino, is famous as one of the last standing ‘Rat Pack’ hotels on the Las Vegas Strip. Sahara Casino was built in a Moroccan style in the early 50’s. It was a favorite haunt of some of the biggest names in the showbiz industry, including Joey Bishop, Sammy Davis Junior, Dean Martin and ol’ Blue Eyes, Frank Sinatra. The hotel was the sixth to be built on the Las Vegas Strip and featured in the movie Ocean’s Eleven.
The hotel was purchased by SBE Holdings, owned by Sam Nazarian, in 2007, and he reportedly paid between $300 and $400 million for it. The entrepreneur had great plans to restore the Sahara and bring it back to its former glory, however, in a statement at the weekend, Nazarian said that “the continued operation of the aging Sahara is no longer economically viable.” He cited the downturn in gambling activity in Las Vegas due to the recession as one of the main reasons for dropping his plans to restore the hotel.
The 85,000 square foot Sahara Hotel and Casino sits on 50,000 acres of land and employs over 1,000 people. SBE’s statement did not say what the group intended to do with the hotel, as well as much of the empty lot that it sat on. However, Nazarian did venture that the group was “working with our partners to assess a variety of options for the property, including a complete renovation and repositioning.”
Sam Nazarian said “We see the northern end of the Las Vegas Strip as the future of Las Vegas. With Las Vegas showing early signs of recovery, we are confident that we ultimately will find a creative and comprehensive new solution for this historic property.”