![]() The nightclub then shut down after only a few months in operation, reportedly due to the high costs. Following the renovations, the property reopened for business in April 2019. The casino company then sunk $690m into renovating the property, including improvements to the hotel and the opening of a new large nightclub called KAOS. Station Casinos bought the Palms Casino Resort for $312.5m in 2016 from the Maloof family, who originally opened it in November 2001. We are excited to move forward with this transaction.” Recent history of the property Speaking about the purchase, San Manuel Gaming and Hospitality Authority chairperson Latisha Casas said: “Our board believes that the Palms is a casino resort that many of San Manuel Casino’s loyal guests would enjoy. The Palms is a casino resort that many of San Manuel Casino’s loyal guests would enjoy” The sale will need to get approval from the Nevada Gaming Commission and is set to close before the end of 2021. A new entity called the San Manuel Gaming and Hospital Authority will reportedly be in charge of operating the Las Vegas casino resort.Īs per the sale agreement, $28.5m will get added to the price if the deal does not close within 18 months. Red Rock Resorts, the parent company of Station Casinos, confirmed the sale agreement on Tuesday morning. ![]() The San Manuel Band of Mission Indians is set to buy the Palms Casino Resort in Las Vegas for $650m.
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