Palms Casino Resort, a prominent gaming and entertainment destination located off the Las Vegas Strip, has seen a dynamic ownership history since its inception. Originally opened in 2001, the Palms was developed by George Maloof Jr. and his family, who were instrumental in establishing the property as a unique and trendy venue, particularly popular with a younger crowd and celebrities. The Maloof family’s ownership helped shape the Palms’ identity, with a focus on nightlife, entertainment, and a vibrant atmosphere.
In 2016, the Palms Casino Resort was sold to Station Casinos, a subsidiary of Red Rock Resorts, gqbet sister sites for approximately $312.5 million. Station Casinos, which operates several other properties in the Las Vegas area, aimed to revitalize the Palms and reestablish it as a key player in the competitive Las Vegas market. Under Station Casinos’ management, the Palms underwent significant renovations and upgrades, including enhancements to its gaming floor, hotel rooms, and entertainment venues.
In 2021, the Palms Casino Resort changed hands again when it was acquired by the San Manuel Band of Mission Indians, a federally recognized tribe based in California. The San Manuel tribe purchased the property for about $650 million, marking their first venture into the Las Vegas gaming market. This acquisition reflects the tribe’s strategic expansion plans and their desire to diversify their gaming portfolio beyond their successful casino operations in California.
The San Manuel Band of Mission Indians has expressed a commitment to revitalizing the Palms and enhancing its appeal to both locals and tourists. Their vision includes maintaining the unique character of the property while infusing it with new energy and offerings. The tribe has plans to invest in further renovations and improvements, aiming to attract a diverse clientele and reestablish the Palms as a premier destination in Las Vegas.
The ownership transition to the San Manuel tribe is significant not only for the Palms but also for the broader Las Vegas gaming landscape. It symbolizes a growing trend of Native American tribes entering the Las Vegas market, leveraging their successful gaming operations to expand their reach. The San Manuel Band of Mission Indians is known for its successful management of the San Manuel Casino in California, which has consistently ranked as one of the top gaming destinations in the state.
In summary, the Palms Casino Resort is currently owned by the San Manuel Band of Mission Indians, following its acquisition from Station Casinos in 2021. This ownership change represents a new chapter for the Palms, with a focus on revitalization and innovation aimed at attracting a wide range of guests. As the property continues to evolve under the new ownership, it is poised to reclaim its status as a vibrant and essential part of the Las Vegas entertainment scene.