- Associated Press - Wednesday, August 19, 2015

LAS VEGAS (AP) - Losses at the SLS Las Vegas hotel-casino continue to grow.

The former Sahara casino-hotel that was rebranded and reopened a year ago reported it lost $48.7 million in the second quarter including $5.7 million at its restaurants and bars. The property has lost $35.3 million in its first quarter.

The hotel-casino sits isolated on the northern edge of the Las Vegas Strip.

SLS Las Vegas President Scott Kreeger recently told Nevada Gaming Control Board members the property doesn’t benefit from foot traffic. He says the property is focusing on cutting expenses, shifting from nightclub to live entertainment offerings and attracting locals and convention-goers.

Owner Stockbridge/SBE Investment Co. LLC says its partners have covered revenue shortfalls.

Stockbridge has spent $13 million since the end of June to cover the hotel-casino’s operations.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide