Astumbling economy has claimed another victim on the Las Vegas Strip. The two-tower, 1,720-room Sahara Hotel & Casino will close on May 16 amid funding woes that have temporarily stalled redevelopment plans.
Los Angeles-based owner SBE Entertainment Group will shutter the 59-year-old resort on 17.5 acres because continued operation is “no longer economically viable,” a company statement said. The closure will likely affect the bankrupt 3.9-mile Las Vegas Monorail, which has a passenger station at the Sahara. SBE and San Francisco-based private equity firm Stockbridge Real Estate Group bought the 27-story hotel-casino for $331.8 million in March 2007, as the real estate boom concluded.