John

The Gordon Gaming Corp. have agreed to sell the Sahara hotel to a private investor group SBE Entertainment Group LLC and San Mateo, Calif.-based Stockbridge Real Estate Funds.

"The Sahara is one of the last remaining original properties on the Las Vegas Strip, and we are thrilled with the possibilities that it presents," SBE Entertainment CEO Sam Nazarian said in a statement late Friday.

The sale includes a 17.5-acre parcel on the north end of the Strip and the hotel-casino with 1,720 rooms. The Sahara is one of the oldest properties on the Strip. It lost its high-end clientele as upscale development on the Strip moved south.

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