By Alesandra Dubin Posted April 13, 2011, 1:10 PM EDT
Sam Nazarian's hospitality group SBE has acquired its largest Los Angeles nightlife competitor, David Judaken's Syndicate Hospitality—which means Nazarian now has the biggest portfolio of nightclubs on the West Coast. Added to a roster of clubs that already includes Industry and the Abbey are Hollywood's MyStudio, MyHouse, Eden, and Crimson and Opera. SBE now has 25 venues in all, with a plan for 35 by the end of next year, according to The Los Angeles Times.
In an in-depth interview, Nazarian told The Times that he expects to reopen the soon-to-be shuttered Sahara Hotel in Vegas, acquired in 2007 for an estimated $300 million. He'll reopen it in 2014 as an SLS Las Vegas, with six restaurants and two nightclubs. “We've spent $30 million in design development drives; we're shovel-ready. If we were admitting defeat, we would have admitted it,” he told The Times, referring to much speculation over financial trouble.