There are reports that the oldest hotel and strip resort would close down after May 16. Sahara Hotel and Casino, the oldest in Las Vegas would finally have its curtains down on May 16 after the owners have decided not to go for the redevelopment of this place.

This hotel was built in 1952, and it was the northernmost casino. This hotel and casino was featured in the movie “Ocean’s Eleven”

SBE Chief Executive Officer Sam Nazarian's Los Angeles-based hospitality and entertainment group and Stockbridge which is based in San Francisco have brought this property in the year 2007. After that they have announced the redevelopment of this place and renovate the old hotel. Thereafter the hotel lost huge financial amount in gambling, conventional and housing declines.

The hotel which has past memories of the days of Frank Sinatra’s Rat Pick would be finally closing down on May 16, 2011.

Few days back the hotel officials reported that the owners were considering the rebuilding and re-naming the hotel.

This hotel has struggled with the financial burden for the last few years. The redevelopment work was stalled due to inadequate funds. The hotel also had a big struggle over the ownership. There are two hotel projects which were stopped due to financial burdens.