Nightlife mogul Sam Nazarian gives up on gambling license
LAS VEGAS (AP) — Nevada gambling regulators won't have Los Angeles nightlife mogul Sam Nazarian to scrutinize anymore.
The Nevada Gaming Control Board recommended Wednesday to allow the entrepreneur to sell his 10 percent stake in the SLS Las Vegas casino-hotel on the Las Vegas Strip and withdraw his application for a gambling license. The recommendation would need separate Gaming Commission approval.
Nazarian endured a grilling from regulators last December about past drug use and business dealings. Nazarian was granted a limited year-long license and agreed to several drug tests in the past year and regular inspections of his emails.
Nazarian says the business plan that converts his SBE Entertainment Group's management contract to a licensing deal that allows the SLS name and other brands to be used, no longer requires a gambling license.