Prominent developers SBE and Stockbridge have partnered for the groundbreaking SLS Hotel & Casino project in Las Vegas, a transformative endeavor that redefines luxury hospitality and gaming experiences. This iconic development, sponsored by major players in the real estate industry, has revitalized the historic Sahara Hotel & Casino into the vibrant SLS Las Vegas.
The SLS Las Vegas property spans an impressive 2.2 million square feet and features three hotel towers, offering a total of 1,371 rooms and 251 suites. The property also boasts a remarkable 66,154 square feet of casino space, including 860 slot machines, 112 gambling tables, and a state-of-the-art 2,840 square foot sports book area. With a total budget of USD850 million, this project represents a significant investment in the Las Vegas hospitality and entertainment scene. Construction commenced in February 2013 and was successfully completed in late 2014, with the property currently in operation.
HGC, together with other limited partners, has made a substantial investment of USD400 million in this visionary project. This collaboration highlights HGC's commitment to driving transformative real estate developments that redefine the landscape and elevate guest experiences. Phase I of the project commenced in 2016 and is scheduled for completion in 2023, showcasing the successful progress achieved thus far.
The SLS Hotel & Casino project brings together the expertise and strength of industry leaders. Stockbridge Capital Group, a registered investment advisor with the U.S. Securities and Exchange Commission (SEC), manages over USD5.5 billion in assets and specializes in the integrated development of medium to large real estate projects. Their involvement in the project further enhances its potential for success.
Daniels Real Estate LLC, an experienced real estate development company, brings a wealth of knowledge and expertise to the project. With key management members boasting over 25 years of experience, Daniels Real Estate LLC has successfully completed various notable developments, including the upgrade of Seattle's Union Station and the development of over 1.1 million square feet of office space in adjacent stations. Their commitment to quality and innovation aligns perfectly with the vision for the SLS Hotel & Casino project.
Together with SBE, Stockbridge, and Daniels Real Estate LLC on this prestigious development, HGC is reshaping the Las Vegas hospitality and gaming landscape, offering guests an unparalleled experience and setting new standards of excellence.