Who Owns the Palms Casino?

Palms Casino is a gamblers’ resort near the Las Vegas Strip in Paradise, Nevada. It was opened in Nov 2001 by the Maloof family to cater to tourists and locals. The resort includes a casino, restaurants, nightclubs, guest rooms, and business hubs.

In Mar 2024, Palms Casino Resort launched a Free Cabana and Plunge Pool package for the spring season. This affordable deal was designed for Las Vegas locals to sunbathe, have fun, and dine poolside or chair-side on all palates. [1]

Palms Casino offers exhibitor office space, a 14-screen multiplex venue, and a 170,000-square-foot conference, meeting, and event venue. These amenities host organizations and businesses. In Mar 2024, the American Film Market (AFM) selected Palms Casino as the venue for its 45^th annual film bazaar.

The event hosts film buyers and sellers representing top production houses, like Cornerstone, Arclight, HanWay, Blue Fox, Film Mode, Neon, Film-Nation, and Lakeshore. [2]

Palms Casino offers customized experiences each holiday season. The resort was transformed into a winter wonderland of entertainment and culinary delights in Dec 2023. From Dec 6 to midnight Dec 31, guests immersed themselves in celebration.

Palms Casino was the Official Sponsor of the 2023 National Finals Rodeo (NFR). The resort hosted NFR performers and served food and beverage specials, from Scotch 80 Prime to AYCE Buffet, Mabel’s BBQ, Send Noodles, and Christmas and NYE menus. [3]

Palms Casino’s Pearl Concert Theater has hosted many iconic artists. Most musicians include the venue on their Las Vegas tours. In Apr 2024, Palms VP of Entertainment and Activations Crystal Robinson-Wesley announced Babyface’s return to the Pearl Concert Theater. The legendary musician was scheduled to perform the hits and songs he wrote and produced for other artists, including Whitney Houston, Michael Jackson, Madonna, and Boyz II Men. But who owns Palms Casino? [4]

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Who is Palms Casino’s Owner?

Palms Casino is a wholly owned casino and hotel venture of the San Manuel Gaming and Hospitality Authority (SMGHA). SMGHA is the business arm of the San Manuel Band of Mission Indians (SMBMI), based in San Bernardino, California.

In 2021, SMBMI acquired Palms Casino Resort, making history as the first Las Vegas casino wholly owned by a Native American tribe. Palms reopened in Apr 2022 under tribal ownership. The casino rehired over 50% of its former employees. [5]

Mission Indian’s San Manuel Band is dedicated to addressing the economic and social welfare of its tribe members. The tribal council relies on the San Manuel Gaming and Hospitality Authority for revenue generation.

It owns Palms Casino and Yaamava Resort & Casino at San Manuel. In Sep 2023, Yaamava won the Best Casino Outside of Las Vegas in the 2023 USA Today 10 Best Readers’ Choice Awards. Its Pines Modern Steakhouse was voted the Best Casino Restaurant, ahead of Palms Casino’s AYCE Buffet in fifth place. [6]

The SMGHA is a venture with a higher purpose. It is committed to helping underserved populations in the communities that they serve. In Sep 2023, the SMGHA and Palms Casino awarded over $1.3 million in grants to 52 local charities across Southern Nevada for the second year.

The nonprofit organizations received $5,000-$100,000 to support critical pillars, including education, empowering lives, reinforcing healthy and resilient communities, and preserving cultural traditions. The San Manuel has disbursed over $12 million in grants since 2020. [7]

The San Manuel Gaming and Hospitality Authority is Palms Casino’s parent company. The organization leverages its connections in the entertainment sector to drive more business to its casinos and resorts.

In Aug 2023, IMPACT Wrestling selected Palms Casino as its new home in Las Vegas. Palms Casino hosted IMPACT’s “Hard to Kill” pay-per-view event. [8]

Image Credit: David Lusvardi

Palms Casino Ownership History

George Maloof purchased the Palms Casino site near the Las Vegas Strip in 1997. The Maloof family sold Fiesta Rancho to Station Casinos to help pay for the resort’s $ 275 million construction, which began three years later.

In Nov 2001, Palms Casino opened for business. The Maloof family owned the majority stake, with Station Casinos and The Greenspun as minority owners.

Palms Casino rose to fame after several appearances on television shows, including the 2002 The Real World: Las Vegas, 2008 MTV Music Awards, Katy Perry’s 2009 music video, and 2011 MTV Spring Break.

The Maloof family invested $600 million to build the Fantasy Tower and Palms Place. However, the 2010 recession devastated the casino business. In May 2016, Station Casinos acquired Palms Casino for $312.5 million from the Maloofs. The new owners spent $690 million on renovations and reopened the resort in Apr 2019. [9]

Palms Casino operated for less than a year after its 2019 grand reopening. The resort closed in Mar 2020 due to the global health crisis. It didn’t reopen because its parent company faced financial challenges.

In Dec 2021, the San Manuel Band of Mission Indians acquired Palms Casino for $650 million. The deal transferred ownership to SMBMI. [10]

Palms Casino reopened in Apr 2022. It was the first casino wholly owned by a Native American tribe. The resort thrived as part of SMBMI’s San Manuel Gaming and Hospitality Authority.

In Apr 2023, Palms Casino celebrated one year since reopening under tribal ownership. The new owners plan to restore the Palms to its former glory. [11]

Image Credit: Michał Parzuchowski

Palms Casino’s Shareholder Structure

Palms Casino is a wholly owned and operated resort of the SMGHA, the business arm of the San Manuel Band of Mission Indians. The San Manuel Band is a federally recognized tribe governed by a democratically elected tribal council.

The tribal government provides essential services for its citizens and promotes economic, social, and cultural development. In Nov 2023, Palms Casino revealed its restored sign at The Neon Museum. The sign describes the brand’s history and presence.

It also celebrates the San Manuel Band as the first Native American tribe to own and operate a Las Vegas casino resort. [12]

Palms Casino’s shareholders are the SMBMI tribe members. Think of Palms as San Manuel Band’s government-owned venture under the San Manuel Gambling & Hospitality Authority. The San Manuel Band exercises the tribe’s sovereign right of self-governance.

It also operates as a business entity. In Sep 2023, San Manuel’s Tribal Government Operations and Yaamava Resort & Casino received Great Place To Work Certification. It earned the certificate for the third year and achieved 24 points higher than the average US company. [13]

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