Palms Casino Resort

Origins and Development

Palms Casino Resort was developed by the Maloof family, who were also known for owning the NBA’s Sacramento Kings at the time. When it opened on November 12, 2001, the property combined a hotel tower, casino floor, restaurants, and nightlife venues designed to appeal to a younger Las Vegas audience. During the 2000s, the resort expanded with the Fantasy Tower and became a celebrity-heavy lifestyle destination, helped by popular venues such as Rain, Ghostbar, and the Pearl Concert Theater.

Business Model

The Palms operates as a traditional land-based casino resort. Its revenue comes from casino gaming, hotel stays, dining, entertainment, and nightlife, with the casino floor offering slot machines, table games, high-limit gaming, and a race and sportsbook. The property is a licensed Nevada casino resort rather than an online casino or sweepstakes operation, and it does not currently offer a Nevada online casino product.

Red Rock Era and Sale

In 2016, Red Rock Resorts acquired the Palms from the Maloof family and began a large-scale renovation. The resort closed in March 2020 during Nevada’s COVID-19 shutdown and did not reopen under Red Rock’s ownership. In early 2021, Red Rock agreed to sell the property to the San Manuel Band of Mission Indians, a federally recognized California tribe, and the transaction closed at a reported $650 million. The tribe’s gaming authority already operated San Manuel Casino in California, later rebranded as Yaamava’ Resort & Casino, making the Palms acquisition a gateway into the Las Vegas market.

Tribal Ownership and Reopening

The Palms reopened on April 27, 2022, under San Manuel ownership. Cynthia Kiser Murphey was named general manager in April 2021 ahead of the reopening, and the relaunch brought roughly 1,300 jobs back to the property. The resort’s hotel offers around 700 rooms and suites, while dining, entertainment, nightlife, and casino operations remain core parts of the experience.

Recent Investment and Market Position

Under tribal ownership, the Palms has continued to invest in its physical plant. A dedicated 7,300-square-foot nonsmoking casino area was added to the casino floor, reflecting an industry-wide push to accommodate smoke-free gaming preferences. The property competes with other Las Vegas resort-casinos for both tourists and local visitors, and it holds a meaningful place in the regional gambling market as one of the first tribal-owned casino properties in the Las Vegas resort corridor.

Industry Significance

The Palms is significant in the broader gaming and iGaming sector mainly as a high-profile tribal-owned Las Vegas casino resort and Nevada sports-betting venue. Its ownership structure, reopening story, and continued investment make it a notable case study in tribal gaming expansion beyond California and into the Las Vegas market.