Sahara's Hotel-Casino Gets New Management

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Message was posted: 11:06 Jul 30th, 2007

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Casino news source: Fox 5 News - http://www.fox5vegas.com

Sahara's Hotel-Casino Gets New Management
New Managers Are Las Vegas-Based Navegante

LAS VEGAS -- The Nevada Gaming Commission has given the Navegante Casino Management Group final approval to operate the Sahara Hotel-Casino on the Strip.

Las Vegas-based Navegante, headed by Larry Woolf, is not planning any major changes in the operation of the 85,000-square-foot Sahara casino.

The Strip property is being sold to a partnership between Los Angeles-based SBE Entertainment Group and San Francisco-based Stockbridge Real Estate Funds for between $300 million and $400 million. The deal is expected to close early next week.
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The Gaming Commission was told Navegante will have 1-year lease and the possibility of four 3-month extensions over the following year. However, executives from SBE Entertainment and Stockbridge are applying for a license to run the Sahara casino.

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