The Palms Casino Resort A History of Success and Controversy
The Palms Casino Resort has been a Las Vegas mainstay since it opened its doors in 1996. The property has seen its share of ups and downs over the years, but it remains one of the most popular casinos in the city.
In this brief introduction, we’ll take a look at the history of the Palms, from its early days as a small casino to its current status as a major resort destination. We’ll also discuss some of the controversies that have surrounded the property over the years.
So without further ado, let’s take a closer look at the Palms Casino Resort.
So Who Owns The Palms Casino In Las Vegas
Palms Casino Resort is owned by Vici Properties and operated by Palms Gaming LLC.
Who Owns the Palms Casino in Las Vegas?
History of the Palms Casino
The Palms Casino was originally built in 1993 by the late George Maloof, Sr. The casino was located on the Las Vegas Strip and was known for its high-end amenities and luxurious design. In 2010, the Palms was sold to Station Casinos for $1.7 billion.
Current Ownership of the Palms Casino
In 2016, Station Casinos filed for bankruptcy and the Palms was put up for sale. The casino was eventually purchased by a group of investors led by Leonard Ellerbe and Jason Mohegan for $310 million.
Future of the Palms Casino
The new owners of the Palms have plans to invest heavily in the casino and make it a top destination for tourists and gamblers. The casino is expected to undergo a major renovation in the coming years, and it is likely that new amenities and attractions will be added.
Conclusion
The Palms Casino is a Las Vegas institution that has seen its fair share of ups and downs. However, the casino is now in good hands with new owners who are committed to making it a success.
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FAQs: Who owns the Palms Casino in Las Vegas?
Who owns the Palms Casino in Las Vegas?
The Palms Casino Resort is owned by Red Rock Resorts, Inc.
How much did Red Rock Resorts pay for the Palms Casino?
Red Rock Resorts paid $316 million for the Palms Casino in 2016.
When did Red Rock Resorts buy the Palms Casino?
Red Rock Resorts acquired the Palms Casino in December 2016.
What other casinos does Red Rock Resorts own?
Red Rock Resorts owns several other casinos in Las Vegas, including the Red Rock Casino, the Green Valley Ranch Resort, and the Sunset Station Hotel and Casino.
What is the future of the Palms Casino?
Red Rock Resorts has plans to invest $600 million in renovations for the Palms Casino. The renovations are expected to be completed in 2023.