SSL LAS VEGAS WILL HAVE ROUGHLY 1,600 ROOMS AND OPERATE AS A TRULY BOUTIQUE RESORT

By the time SLS Las Vegas opens, there will be SLS branded hotels in several U.S. cities including New
York, Los Angeles, Chicago and Miami.

The construction funds, raised by J.P. Morgan Securities, marks the first new construction loans
on the Strip in several years. A spokesman said, "we believe that this will kick off the next wave of
construction in Las Vegas."

Governor Sandoval said, "today's news will make an immediate and positive impact in Las Vegas,
infusing hundreds of millions dollars into our economy and creating thousands of jobs."

SBE CEO Sam Nazarian said he is confident that other investments will come to the Strip's north
end. "I've kind of become the unofficial ambassador for the northern end of the Strip."

With 50,000 cars a day passing the intersection of Sahara and the Strip, Nazarian said SLS Las Vegas
would compete for locals business in addition to going after SBE's customer base.

Along with it's hotels, SBE has a nightlife and restaurant business, including 14 locations in other cities.

Nazarian said, "we are going to be the only casino operator with hotels in major U.S. cities."

SBE bought the Sahara in 2007 and closed it last May saying it was no longer economically viable
to operate. All the Sahara's furnishings and memorabilia were sold in an estate sale.