πŸ– New ownership gives older Reno-area hotel-casinos a fresh start - CDC Gaming Reports

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GSR owner Alex Meruelo sued over claims of unpaid license fees for SLS Las Vegas casino
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He also owns L. This demand can provide a way to make some money when jobs are scarce. He generally prefers to continue to own and operate his companies rather than sell. Alex Meruelo, a longtime L. Facebook groups against coronavirus restrictions pivot to attacks on Black Lives Matter. He pointed to a stack of papers on his desk: a list of all the recent checks written by his companies. I remember companies and numbers. But paraphrasing oil baron J. He then sold them a few years later for almost five times as much, he said. He and Liset, his wife of 28 years, raised three children in Orange County but moved to Reno shortly after he acquired the Grand Sierra. More From the Los Angeles Times. Hobson is taking the lead on those projects, but Meruelo will sign off on the details. Hot Property. About Us. They headed to Miami, then New York, where Meruelo was born, and soon after moved west and settled in Whittier. Brand Publishing. When he was trying to acquire the Hawks he told The Times that he worried every new deal could be the one that brings him down. They ran a bridal shop on Broadway in downtown L. His parents, both accountants, fled Cuba after Fidel Castro came to power. Put your RV or camping gear to work: You can rent them out. Now, Meruelo, who already owns the Grand Sierra Resort hotel and casino in Reno, believes he can succeed where Nazarian failed. For now, he and Meruelo are focused on making cosmetic changes they believe will make the SLS more inviting and more traditional. Technology Facebook groups against coronavirus restrictions pivot to attacks on Black Lives Matter. But the top-dollar acquisition on the eve of the recession proved to be an ill-timed bet on Sin City β€” followed by other troubles, including revelations Nazarian had used cocaine and had paid millions to a convicted felon who had allegedly extorted from him. Tribune Publishing adds Alden co-founder to board while extending ownership standstill agreement. Part of the trouble could stem from its location. Facebook Twitter Show more sharing options Share Close extra sharing options. Older brother Homero has developed several high-profile projects in Miami but lost properties to foreclosure and was accused of failing to repay millions of dollars in deposits to buyers of condos that were never built. He was raised in St. So any deal I do could ruin me. On a recent Monday, Meruelo had back-to-back meetings at the headquarters of his Meruelo Group holding company, a two-story office building on Firestone Boulevard situated between a carwash and a liquor store.

That bet on an untapped market became the foundation of the sprawling business empire of Alex Meruelo, a low-profile investor and entrepreneur who has just made his biggest and highest-profile bet yet β€” on a historic but faltering casino on the Las Vegas Strip.

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He previously wrote for the Los Angeles Business Journal, where he covered banking, manufacturing and other industries, and for daily newspapers in Southern California and rural Michigan. Alan X. Times Store. A loose network of Facebook groups that took root across the U. By his account, he and former owner Bruce Levenson agreed to a price β€” but league officials demanded he pay more. April 20, James Rufus Koren. Business Tribune Publishing adds Alden co-founder to board while extending ownership standstill agreement. The media properties broadcast in Southern California, a market that provides Las Vegas with about one-third of its domestic visitors. Just south of the SLS is a vacant lot, a half-finished resort and a parking lot that was once home to the Riviera, which was demolished in Nearby projects Resorts World and the Drew, formerly known as the Fontainebleau, are finally set to open in There are also plans to build a 22,seat arena along with a hotel and retail space on the vacant lot next door to the SLS. Times News Platforms. Follow me: jrkoren. Younger brother Richard was chairman and chief executive of Meruelo Maddux Properties, a firm that was once the largest landlord in downtown L.