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SLS Las Vegas Dining, Nightclubs, Funding Plan Revealed

By Chuckmonster on Thursday, 13th December 2012 11:40am
  » filed under Las Vegas  comments: 6

   

The SLS Las Vegas, the proposed renovation of the shuttered Sahara, can't raise the last $115m required to get the job started.

Despite having $300m of J.P. Morgan's cash in escrow, more smoke machines than Iron Maiden, more mirrored trickery than David Copperfield and more adjectives than Webster... owners sbe have resorted to a bizarre, little known investment tool the EB-5. Recently, Two Way Hard Three wrote a piece entitled Funding For Green Cards which discusses the program and how it has been used to build casinos previously.

Agents for the American Dream Fund have set up a website to solicit applications for their current EB-5 project - the SLS Las Vegas. Despite containing a truly tasteless photo (yes, that is a hamburger) the website contains lots of information about the process, requirements and a sea of bullet points related to the proposed SLS itself.

Requirements for entry into EB-5 are minimum $500,000 investment. In five years, should the project continue and become successful, you get your green card and your investment back and are invited to apply for citizenship. Gotta say if SBE can get enough fish in the bucket, this is a great way to grab cash without having to give up equity or take phone calls when this North Strip gamble doesn't work out.

For the low low price of $500,000 this is what you give Las Vegas....

Hotel:

1,371 rooms, 251 suites, 3 towers

Casino:

66,154 sq ft
- 860 slots
- 112 tables
- 2,840 sq ft sports book (integrated into restaurants and night clubs)

Convention:

32,700 square feet of convention space

Night clubs

(4) 71,650 sq ft, 5000 capacity
- Foxtail (L.A. outpost closed)
- Shelter (sbe's first club, also closed)
- Sayers Club (speakeasy)
- (unknown)

Bars & Lounges

8,000 sq ft

Dining

(12 restaurants) 43,000 square feet, 1671 capacity
- The Bazaar by Jose Andres (modern & traditional tapas)
- Katsuya (sushi)
- Umami Burger (burgers)
- Mercato di Vetro (Italian)
- Papaya King (hot dogs & fruit juice)
- The Griddle Cafe (ginormous pancakes)
- 800⁰ Neapolitan Pizzeria (pizza)

For those interested in applying.








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Comments & Discussion:

Damn it...I just gave my spare $500,000 to some guy who knows the president of a bank in Nigeria...

Sounds like a stylish place to stay.

If their biggest problem is the neighborhood, than at least they are doing their part. The timing might work out that they will find themselves in competition with Drai's Quad Coast for hotel guests that have grown tired of HRH or Palms.

[ ] Plan lacks girth
[ X ] Plan is Douchtastic



ok, just how big is a ginormous pancake? bigger than the ones at hash house a go go?

I've been to both pancake establishment. Hash Houses are bigger but I believe Griddle Cafe's are thicker...if size matters to you. The flavors Griddle cafe has are amazing.

If the flavors are good then if sam ever gets his stuff together the place may work but that end of the strip is going to need a real game changer to make an effect.

So, every club and restaurant is or has been in Hollywood already?

So what's the point?



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