99°F
weather icon Clear

SLS Las Vegas owner Alex Meruelo looking to buy Arizona Coyotes

Updated June 10, 2019 - 2:12 pm

The owner of the SLS Las Vegas on the Strip is looking to buy the Arizona Coyotes National Hockey League team.

A representative for Alex Meruelo said the billionaire entrepreneur, who also owns the Grand Sierra Resort in Reno, confirmed talks are progressing.

“While we are unable to provide more in-depth information at this time, we can confirm Alex Meruelo, owner of Meruelo Group including SLS Las Vegas and Grand Sierra Resort and Casino, has expressed interest in purchasing the National Hockey League’s Arizona Coyotes,” Christopher Abraham, a spokesman for the Meruelo Group, said in a brief statement.

No terms of the deal have been announced.

The Coyotes has been on shaky financial footing for years, filing for bankruptcy protection in 2009.

The team hasn’t qualified for the NHL playoffs since the 2010-11 season.

Meruelo has a reputation for acquiring failing companies, fixing them and maintaining them, as opposed to spinning them off, a formula he successfully used for the Grand Sierra Resort and the SLS Las Vegas.

The pending transaction is expected to be on the discussion agenda when the NHL Board of Governors meets in Las Vegas June 19.

A representative of the NHL had no comment on the possible sale. But a gaming industry analyst said a transaction could be an important step for sports wagering and for Las Vegas.

“Meruelo’s acquisition of the Coyotes would represent simply another step toward a fuller comingling of professional sports and gambling,” said Chris Grove, managing director of sports and emerging verticals for Eilers & Krejcik Gaming.

“While his purchase alone won’t be enough to change the world, the cumulative impact of such moves, alongside the successful efforts of Las Vegas to become a hub for professional sports teams and the rapid spread of legal sports betting, will be to eventually dismantle many, if not most, of the outdated league policies and procedures that have erected artificial business barriers between the worlds of gambling and pro sports,” he said.

It hasn’t been uncommon for cross ownership in gaming and professional sports. In most cases, casino owners who hold ownership interests in pro teams take games involving their teams off the betting board in their sportsbooks.

For example, Tilman Fertitta, owner of the Golden Nugget franchise with properties in downtown Las Vegas and in Laughlin, doesn’t take bets on games involving the National Basketball Association’s Houston Rockets, which he owns.

However, because National Football League rules prohibit its owners from casino involvement, Fertitta was required to relinquish his holdings in the Houston Texans NFL franchise, in which he was a founding investor.

While the state Gaming Control Board does not break out the number of hockey bets placed annually — it’s among sports wagers listed in an “other” category — the amount bet on football is more than three times the amount bet on “other” sports. Football, basketball and baseball wagers include betting on both professional and collegiate teams.

The NHL playoffs will end Wednesday when the St. Louis Blues play the Boston Bruins in Boston in Game 7 of the Stanley Cup Finals. The 2019 NHL Honors, an awards show, will be staged at Mandalay Bay Events Center on June 19.

It will be the 10th time the league has brought its annual awards event to Las Vegas, with previous shows occurring at the Palms, Encore, MGM Grand Garden Arena, The Joint at the Hard Rock Hotel, and T-Mobile Arena.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

Don't miss the big stories. Like us on Facebook.
Golden Knights Videos
Vegas Golden Knights President Kerry Bubolz on the Golden Edge Podcast
Review-Journal reporters Ben Gotz and David Schoen talk with Golden Knights president Kerry Bubolz about his experiences with LeBron James, the team's new initiatives, a possible MLS expansion team and more.
George McPhee Conference Call on Nikita Gusev trade - VIDEO
Golden Knights President of Operations George McPhee answers questions on a conference call about the teams most recent trade of Nikita Gusev to the New Jersey Devils.
Vegas Golden Knight's Deryk Engelland Happy to Re-Sign - Video
Vegas Golden Knights defenseman Deryk Engelland is happy to stay in Las Vegas after signing a one-year deal with the team.
Golden Aces hold Tryouts For 2019-2020 Season - Video
The Golden Aces hold tryouts for the 2019-2020 season for the Golden Knights.
Golden Knight's owner Bill Foley's House for sale in The Ridges - Real Estate Millions
Vegas Golden Knights, Fleury Make Day for Critically Ill Teenager in ESPN “My Wish” - Video
A 13-year-old Las Vegas boy who has faced Hodgkin’s lymphoma is treated to a special day by the NHL’s Vegas Golden Knights in a new ESPN “My Wish” Series feature debuting Wednesday, July 17, on SportsCenter. In the feature, Doron Coldwell spends a day with the team and even gets an opportunity to replace his favorite player, three-time Stanley Cup winner Marc-Andre Fleury, in the net.
Golden Knights Sell "Battle Worn Armor" To Season Ticket Holders - Video
The Golden Knights sell their "battle worn" apparel throughout both of the teams seasons including pucks, sticks, helmets and skates.
Summerlin 4th of July Parade - VIDEO
On July 4th Summerlin will be hosting the 25th annual Summerlin Council Patriotic Parade, an event that has grown massively over the years
Golden Knights McPhee talks on the first day of NHL free agency - VIDEO
Golden Knights incoming president of operations George McPhee addresses the media as free agency starts.
Golden Knights Trade Colin Miller as Development Camp ends - VIDEO
George McPhee speaks to the media following the end of the Golden Knights development camp.
Golden Knights Development Camp Day 4 - VIDEO
Nic Hague stands out at day 4 of Golden Knights development camp.
Golden Knights Hold First Scrimmage of Development Camp - Video
The first of three scrimmages was held at the 2019 Golden Knights Development Camp. Golden Edge host Cassie Soto and Golden Knights beat writers Adam Hill and David Schoen discuss what stood out to them.
Golden Knights George McPhee Discusses Erik Haula Trade - Video
A day after it was announced that Erik Haula had been traded to the Carolina Hurricanes, incoming President of Hockey Operations George McPhee spoke to the media discussing the move.
Golden Knights Trade Erik Haula - Video
The Golden Knights have traded Erik Haula to the Carolina Hurricanes in exchange for prospect Nicolas Roy. Golden Edge host Cassie Soto and Golden Knights beat writer Adam Hill discuss the trade.
Golden Knights Coaches Looking for Veterans to Step Up in Development Camp - Video
Day two of the 2019 Golden Knights Development Camp is in the books. Director of Player Development Wil Nichol says his staff is looking for the veterans of the camp to step up and be leaders to the younger guys, while at the same time doing their best to impress the coaching staff.
Golden Knights Draft Player with Strong Hockey Bloodlines - Video
The Golden Knights drafted Mason Primeau in the 5th round of the 2019 NHL Draft. Primeau is no stranger to professional hockey, both his dad (Wayne Primeau) and his uncle (Keith Primeau) played in the NHL.
Golden Knights Kelly McCrimmon Talks Development Camp - VIDEO
Golden Knights general manager Kelly McCrimmon talks about what he expects from everyone at development camp on their first day.
Golden Knights Dylan Coghlan On Veteran Experience - VIDEO
Golden Knights defenseman Dylan Coghlan talks about his veteran experience playing in Chicago and development camp.
Golden Knights President George McPhee talks about Williams Karlsson's 8 year deal
George McPhee presser highlights June 25, 2019.
Golden Knights Center William Karlsson speaks to media about 8 year contract
William Karlsson presser highlights June 25, 2019.
Golden Knights Development Camp at Catholic Charities of Southern Nevada
For the third consecutive year, Vegas Golden Knights Development Camp participants participated in a special community event at Catholic Charities of Southern Nevada in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
2019 NHL Awards Highlight Video
The 2019 NHL Awards took place at the Mandalay Bay Events Center in Las Vegas on Wednesday night. Though Vegas Golden Knights forward Mark Stone came close to winning the best defensive forward trophy, St. Louis Blues center Ryan O' Reilly took home the coveted Frank Selke Trophy. Jason Zucker, who was raised in Las Vegas and plays for the Minnesota Wild, accepted the King Clancy Memorial Trophy for leadership and humanitarianism. Tampa Bay Lightning's Nikita Kucherov took home the NHL's MVP Award. (Heidi Fang / Las Vegas Review-Journal)
Gary Bettman discusses NHL rule changes - VIDEO
NHL commissioner Gary Bettman addressed the media after Wednesday’s Board of Governor’s meeting.
Golden Knights' Mark Stone up for Selke Trophy
Golden Knights right wing Mark Stone is a finalist for the Selke Trophy. The award goes to the best defensive forward in the NHL. Stone led the league in takeaways last season with 122. His competition is St. Louis Blues center Ryan O'Reilly... And Boston Bruins center Patrice Bergeron. Stone will find out if he wins Wednesday at the NHL Awards.
Vegas Golden Knights announce preseason schedule
The Golden Knights announced their preseason schedule Tuesday, as well as the date of their rookie camp and training camp.
Mark Stone and Stanley Cup visit MGM Grand
Mark Stone took photos and signed autographs for Golden Knights fans at the MGM Grand on Sunday. The Stanley Cup also made its way into the MGM Grand Main Lobby. The most revered trophy in hockey is on display to celebrate the upcoming 2019 NHL awards at the Mandalay Bay Center on June 19th. (Nathan Asselin/Las Vegas Review-Journal)
Golden Knights, Raiders Unite for Charity Softball Game - Video Highlights
Golden Knights and Raiders players alike were more than excited to join together in a charity softball game to raise money for pediatric cancer. Players from both teams cannot wait for the Raiders to arrive in Las Vegas so more joint events can take place.
Golden Knights and Raiders Raise over $100K in Charity Softball Game - Video Highlights
In the first-ever Battle For Vegas Charity Softball Game, the Golden Knights and Raiders raised $136,000 for the Tyler Robinson Foundation. At the end of the nights, it was the Raiders that raised the Battle For Vegas trophy, after beating the Golden Knights 20-16. Take a look at some of the highlights from the game!
Golden Knights' Reilly Smith Ready to Battle for Vegas - Video
Golden Knights forward Reilly Smith is ready to Battle For Vegas in a charity softball game that will feature various celebrity athletes, including teammates Jonathan Marchessault, Ryan Reaves and Erik Haula. Smith's team will face off against former Raider Marcus Allen and his teammates, including Vontaze Burfict, Josh Jacobs and Maurice Hurst. The charity softball game is set to take place on Saturday, June 15th at the Las Vegas Ballpark.
Golden Knights Will Have a New Home in Henderson - Video
The Golden Knights are saying goodbye to the Henderson Convention Center and hello to the team's new hockey facility that will be located in the second largest city in Nevada. (Las Vegas Review-Journal)
Business Videos
Popeyes Spicy Chicken Sandwich Review
Janine Blake of Las Vegas gives her review of the new Popeyes Spicy Chicken Sandwich at the restaurant’s location on west Bonanza Road on Thursday, Aug. 22, 2019,
SuperZoo 2019 takes over Mandalay Bay in Las Vegas
SuperZoo 2019 show for pet retailers brought pet products of all description to the Mandalay Bay Convention Center in Las Vegas. (Heidi Knapp Rinella/Las Vegas Review-Journal)
MSG Sphere at The Venetian to cost $1.2B plus
Scheduled to open in 2021, it is expected to be busier than Madison Square Garden in New York. (Michael Quine/Las Vegas Review-Journal)
Favorite products from SuperZoo 2019
Some of the fun and interesting pet products on display at the SuperZoo in Las Vegas at the Mandalay Bay Convention Center. (L.E. Baskow/Las Vegas Review-Journal)
MAGIC Convention Day 3
The fashion trade show MAGIC, held Monday through Wednesday at the Las Vegas Convention Center. (Elizabeth Brumley/Las Vegas Review-Journal)
MAGIC Las Vegas - Day One
The biannual MAGIC convention show opened Monday at the Las Vegas Convention Center. (Elizabeth Brumley/Las Vegas Review-Journal)
Allegiant celebrates naming deal with tailgate party
Allegiant Air employees celebrate with a tailgate party after the company’s naming deal with the Raiders for the new Las Vegas stadium.
Nevada's sportsbook operators welcome competition
Sportsbook operators from near and far are looking to get into in the established Nevada market, experts say. (Las Vegas Review-Journal)
Get a first look of MSG Sphere construction in Las Vegas
Representatives of The Madison Square Garden Company give the first glimpse of progress Tuesday of the under-construction MSG Sphere — a first-of-its-kind performance venue with high-tech audio and visual capabilities.
There's a new place to play board games in Las Vegas
Matt Smiciklas, co-owner of Boarding School Games, talks about the new Las Vegas business that he co-owns with Emily Labejof. Dedicated tabletop gamers can choose from more than 500 games to play for free in-store. The doors open to the public Saturday, July 20, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Renovations at the STRAT
Analysts say the $140 million renovation project at The STRAT, formerly the known as the Stratosphere, could help the hotel-casino compete with the evolving north side of the Las Vegas Strip. (Bailey Schulz/Las Vegas Review-Journal)
SLS Las Vegas will become Sahara Las Vegas
Owner Alex Meruelo announced during a special event at the SLS Las Vegas that the hotel-casino will become Sahara Las Vegas in its next iteration. Meruelo said $150 million dollars will be spent to renovate the current property. (Heidi Fang/Las Vegas Review-Journal)
Aircraft hinge maker moves to "business friendly" Nevada
Doug Silva, president of Aircraft Hinge, Inc. in Las Vegas, makes every type of hinge for every type of airplane. Silva talks about his company and why he moved it to Nevada. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Daytime fireworks mark the opening of Encore Boston Harbor
The opening of the $2.6 billion Encore Boston Harbor in Everett, Mass. included a three-minute fireworks show launched by Fireworks by Grucci Sunday, June 23, 2019. (Rick Velotta/Las Vegas Review-Journal) @RickVelotta
Elaine Wynn talks about the opening of Encore Boston Harbor
Elaine Wynn, co-founder and largest shareholder of Wynn Resorts, talked during opening festivities of the $2.6 billion Encore Boston Harbor in Everett, Mass. Sunday, June 23, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
People line hours ahead of opening for Encore Boston Harbor
Guests arrive as much as 17 hours early for the 10 a.m. opening of the $2.6 billion, 671-room resort in Everett, Mass. Sunday, June 23, 2019. (K.M. Cannon/Las Vegas Review-Journal) @reviewjournal.com
Allegiant Discusses Investments In Golf Course Software And Game Rooms - Video
Allegiant Discusses Investments In Golf Course Software And Game Rooms.
Crews working 24/7 to complete Circa downtown - VIDEO
Owner Derek Stevens goal is to open the doors to the 1.25 million-square-foot project by December 2020. (Michael Quine/Las Vegas Review-Journal)
Golden Knights Marc-Andre Fleury sells Las Vegas home - VIDEO
Golden Knights goaltender Marc-Andre Fleury has sold his custom home Southern Highlands home in Las Vegas for $2.3 million.
Las Vegas Strip resorts slow to welcome Alexa, Google Home Hub
Alexa, where are you? Smart home and hospitality technology was big at CES in early January. Amazon and Google promoted their voice-activated speakers Alexa and Google Home Hub. Hospitality executives have called the speakers the industry’s future. Yet for all the hype, the revolution is unfolding at a cautious pace on the Strip as well as in other major U.S. hospitality markets. Hotels are focusing their consumer-facing technology investments on adding streaming capabilities, like Netflix, and enhancing their mobile apps, a December report by Hospitality Technology showed. Voice-enabled technology is 10th on that priority list.
What is MGM 2020
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
What is MGM 2020
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
Find next-level experience
One minute, you’re just trimming hedges and shooting the breeze with your neighbor. But then he brings up Vegas and you’re thinking about the incredible meals, world-class hotels, pools inside of pools and unparalleled entertainment. You’re thinking about iconic artist residencies like Aerosmith. Priorities take shape. Vegas first, lawn and everything else, second. Just like that, Vegas Changes Everything. (Visti Las Vegas/Youtube)
Vegas Changes Everything
A weekend getaway is nice for anyone, but a weekend getaway in Vegas ... that’s a next-level experience with shows, clubs, spas and more. With a chance to see iconic artist residencies like Gwen Stefani, you might just find yourself going from pushing your child on a swing, to pushing back a birthday party. See how Vegas Changes Everything. (Visit Las Vegas/YouTube)
THE LATEST