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Difficult SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Difficult SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas has been sending out SOS signals ever since it underwent a $415 million renovation less than 3 years ago. The previous famed Sahara Hotel and Casino had been turned into a sleek and modern resort that’s abbreviated moniker stood for ‘Style, deluxe, provider.’

The happy blob statue might be a little sad after learning SLS Las Vegas has been sold.

It didn’t work. This week, the Meruelo Group, a California-based holdings company that has the Grand Sierra Resort and Casino in Reno, announced it was acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.

‘ This will be a once in a lifetime chance to acquire a premier gaming property on the planet famous Las Vegas Strip,’ Meruelo Group Chairman Alex Meruelo said in a statement.

In addition to its Reno casino and future stake in Las vegas, nevada, the privately held Meruelo Group portfolio includes banking and financial solutions, resorts, food establishments, and a Spanish-language television place in Los Angeles.

Storied History Disrupted

SLS was envisioned by Sam Nazarian, whose daddy made the household’s fortune from being an investor that is early Qualcomm.

Though Nazarian’s company, SBE Group, had no expertise in owning or operating a major resort, it bought the Sahara in 2007, along with Stockbridge, for somewhere between $300 and $400 million.

Roughly five years later, the resort that hosted Rat Packers in its earl

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Singapore Casinos Find Collecting Debts from High Rollers Difficult

Singapore Casinos Find Collecting Debts from High Rollers Difficult

Lending money to big time gamblers is effortless for Singapore gambling enterprises, but collecting on those debts is time-consuming and difficult. How many VIP clients who’re in debt to gambling enterprises is increasing and becoming more of a issue.

VIP casino customers, like Asia table tennis gold medalist Kong Linghui, aren’t paying debts that are back gambling Singapore casinos, forcing operators to sue to reclaim their money.

Bloomberg reported that in 2013, just two clients were sued to retrieve cash owed, but by a later, that number had jumped to 49 year. Most big shots use the solutions of junket operators, who act as facilitators for casinos, guaranteeing an amount that is certain of from China’s wealthy gamblers.

The situation is there are merely three such businesses in Singapore, in the place of approximately 200 in Macau, another popular spot for Chinese citizens.

When customers in the Lion City don’t settle their records, it usually falls on the two casinos, Marina Bay Sands and Resorts World Sentosa, to try to recover the money.

Debt Collecting a Challenge

Further complicating the presssing issue are China’s ordinances on lawsuits. Singapore doesn’t have a reciprocal enforcement of judgments with all the country, except for with Hong Kong. Petitioners must sue the defendant in their own nation, then try to acquire a judgment in China.

Casinos may also be hesitant to pursue claims as a resul

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Las Las Vegas Illusionist Surrenders $975k Before Sentencing on Child Porn Charges

Las Las Vegas Illusionist Surrenders $975k Before Sentencing on Child Porn Charges

Jan Rouven just saw another part of his life disappear on Monday, almost $1 million from the sale of his house in nevada’s Centennial Hills neighborhood.

Disgraced Strip magician Jan Rouven surrendered $975,300 to a federal court in Las Vegas on Monday, to pay for fines and victim restitution included in his plea bargain in a child pornography situation.

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The former magician, who had headlined the ‘New Illusions’ show at the Tropicana for approximately two years before being arrested on child pornography fees in 2016, turned over most of the proceeds from the sale of his house to a federal court.

The 39-year-old German-born illusionist pleaded bad in November to three felony counts of possession, receipt and distribution of youngster pornography.

The monies collected Monday will go towards paying fines, court fees, and target restitution.

Overwhelming Evidence

In 2014, FBI agents in Buffalo, ny, infiltrated an online network of people trading child pornography, and snared Rouven in the dragnet.

Rouven, whose delivery name is Jan Rouven Fuechtener, was identified as a suspect using the aliases Lars45 and LarsUSA22, which was enough for authorities to acquire a warrant to search his Las Vegas house.

Agents found more than 3,000 photos and videos on two computer systems as well as an external drive that is hard. Some depicted guys molesting boys that are pre-pubescent young as 3 and 4 yrs . old. The

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Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

The elimination of the casino taxation in Pennsylvania is placing the state in a financial bind. Aided by the 2017 session of the General Assembly ending this week, lawmakers must find at least a fix that is quick the revenue woes they will have known about since last fall, whenever the state Supreme Court ruled elements of the existing casino tax structure were unconstitutional.

Pennsylvania counties risk losing $120 million from the casino tax which has been declared unconstitutional. Gov. Tom Wolf wants a bill on their desk ASAP to remedy budget problems ensuing from the continuing state Supreme Court ruling.

Once the state legalized some forms of casino gambling in 2006, they did so with the promise that each casino would pay 2 % of gross slot revenues to the townships where they’re situated.

That share ended up being to encourage communities to welcome new casino construction, and help offset extra costs associated with having a gambling location within their yard. If any casinos did not meet a $10 million minimum, however, it ended up being on it to make up the distinction. Which is where the slot machine game minimum tax created a nagging problem for the courts.

Courtroom Bust

In 2015, the Mount Airy Casino and Resort within the Poconos protested, when 2 % of their slot revenues amounted to only about $2.8 million, leaving them $7.2 million short.