The Palms Casino Resort in Las Vegas is owned by Palms Owner, Jeffrey Soffer. Soffer purchased the Palms for $310 million in 2016, and has since invested heavily in renovations and improvements. The resort now features a new casino floor, a state-of-the-art spa, and a number of new restaurants and bars. Under Soffer’s ownership, the Palms has become one of the most popular casinos in Las Vegas.
So Who Owns The Palms Casino Resort In Las Vegas
The Palms Casino Resort in Las Vegas is owned by Red Rock Resorts.
Who Owns the Palms Casino Resort in Las Vegas?
History of the Palms Casino Resort
The Palms Casino Resort was originally built in 1993 as a joint venture between Circus Circus Enterprises and Mirage Resorts. The resort was designed by famed architect Steve Wynn, and it quickly became one of the most popular casinos in Las Vegas. In 2007, the Palms was sold to Harrah’s Entertainment for $1.7 billion. Harrah’s then sold the resort to Station Casinos in 2011 for $316 million.
Current Ownership of the Palms Casino Resort
In 2016, Station Casinos filed for bankruptcy protection. As part of the bankruptcy proceedings, the Palms Casino Resort was sold to a group of investors led by the Fertitta family. The Fertitta family is also the owners of the UFC, the world’s largest mixed martial arts organization.
Future of the Palms Casino Resort
The Fertitta family has plans to invest heavily in the Palms Casino Resort. They have already announced plans to build a new hotel tower, a new casino floor, and a new pool complex. The Fertitta family also plans to rebrand the Palms Casino Resort as a more luxurious and exclusive destination.
Conclusion
The Palms Casino Resort is a Las Vegas landmark that has undergone a number of changes over the years. The resort is now owned by the Fertitta family, who has plans to invest heavily in the property and rebrand it as a more luxurious and exclusive destination.
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FAQs about who owns the Palms Casino Resort in Las Vegas
Who owns the Palms Casino Resort?
The Palms Casino Resort is owned by Station Casinos.
How much did Station Casinos pay for the Palms Casino Resort?
Station Casinos paid $310 million for the Palms Casino Resort.
When did Station Casinos buy the Palms Casino Resort?
Station Casinos bought the Palms Casino Resort in 2016.
What did Station Casinos do to the Palms Casino Resort after they bought it?
Station Casinos invested $600 million in renovations to the Palms Casino Resort.
Is the Palms Casino Resort profitable for Station Casinos?
The Palms Casino Resort is profitable for Station Casinos.