- Associated Press - Wednesday, February 5, 2014

LAS VEGAS (AP) - Owners of SLS Las Vegas are planning to open the new hotel on Labor Day weekend.

SBE Entertainment CEO Sam Nazarian announced Wednesday that the new luxury hotel will open at the site of the shuttered Sahara casino during the last weekend in August.

Los Angeles-based SBE Entertainment began construction last winter after securing the $400 million needed for the project.

Managers closed the 59-year-old Sahara, which once hosted the likes of Frank Sinatra and Elvis Presley, in May 2011, saying it wasn’t economically viable.

SBE says the new resort will bring celebrity chefs, nightlife and 1,600 guestrooms and suites to the Strip’s older and less glitzy north end, which includes the famed Stratosphere.