who owns the palms casino

2 min read 15-04-2025

The Palms Casino Resort, a vibrant and iconic Las Vegas destination, has seen a fascinating journey through various owners. Understanding its ownership history helps paint a picture of the resort's evolution and its place in the broader Las Vegas landscape. This article will explore the Palms' ownership, from its inception to its current state.

The Early Years and Station Casinos

The Palms Casino Resort initially opened its doors in 2001. It was founded by George Maloof Sr. and his sons, George Jr. and Gavin Maloof, along with partners. The Maloof family, known for their involvement in other ventures, including the Sacramento Kings NBA team, brought a distinct energy and vision to the casino. Their ownership marked a significant period in the Palms' development.

A Family Affair: The Maloof Era

Under the Maloofs, the Palms quickly established itself as a unique property. It differentiated itself from the established giants on the Strip through its modern design, hip atmosphere, and focus on attracting a younger demographic. This period saw significant growth and investment in the resort.

From Maloof to Red Rock: A Change in Hands

In 2010, the Maloof family sold the Palms Casino Resort to Red Rock Resorts, a Las Vegas-based casino company. This marked a significant change in ownership, introducing a new era for the resort. While Red Rock continued operations and made several updates, the shift in ownership ushered in a different operational strategy and business focus.

Red Rock's Stewardship and Investments

During Red Rock's ownership, the Palms continued to operate, but significant investments and major renovations weren't a major focus. The resort maintained its position as a popular venue, even as other casinos on the Strip underwent major transformations. This period largely represented a consolidation and maintenance phase for the property.

The San Manuel Band of Mission Indians Acquisition: A New Chapter

In 2019, a major shift occurred when the San Manuel Band of Mission Indians, a Native American tribe based in Southern California, purchased the Palms Casino Resort. This acquisition marked a turning point in the resort's history, introducing a new level of investment and vision.

A Major Renovation and Rebranding Under New Ownership

The San Manuel Band has undertaken a comprehensive renovation and rebranding of the Palms. The resort has seen extensive upgrades, aiming to transform it into a luxury destination. This investment showcases the tribe's commitment to the property's long-term success and signifies a significant investment in the Las Vegas hospitality market.

Who Owns the Palms Casino Resort Today?

As of 2024, the San Manuel Band of Mission Indians are the proud owners of the Palms Casino Resort. Their ongoing investments and commitment to upgrading the resort demonstrate their long-term vision for its future.

Conclusion: A Dynamic History of Ownership

The Palms Casino Resort's ownership history reflects its evolution as a dynamic and significant player in the Las Vegas casino industry. From its early days under the Maloof family's innovative leadership to its current transformation under the San Manuel Band of Mission Indians, the Palms has continuously adapted and reinvented itself. This ownership journey provides a valuable perspective on the changing landscape of Las Vegas and the enduring appeal of a casino resort that continuously evolves to meet the expectations of its guests.