The San Manuel Band of Mission Indians and the San Manuel Gaming and Hospitality Authority have reached an agreement for an SMGHA subsidiary to purchase Red Rock Resorts Inc.’s famous Palms Casino Resort in Las Vegas.
Subject to regulatory approvals and other customary closing conditions, the deal is scheduled to close later in 2021.
The Palms includes a casino, approximately 700 hotel rooms and suites, various casual and luxury dining options, meeting and conference space, a 2,500-seat theatre, pool and spa, other facilities, and Palms Place condominiums, which have been closed for over a year.
Important step for the tribe
Chairman of San Manuel Ken Ramirez made the following observation: “Today represents an important step for the tribe and its long-term economic diversification strategy. On behalf of the tribe, we are thankful for the opportunity to join a community that we have come to know and appreciate.”
The tribe has long been a supporter of the Las Vegas region, donating to non-profits and universities such as UNLV’s William F Harrah College of Hospitality and William S Boyd School of Law, the Public Education Foundation, and Shade Tree Shelter. It also has affiliations with the Raiders and Allegiant Stadium in Las Vegas, as well as the Vegas Golden Knights.
Latisha Casas, Chairwoman of the SMGHA, stated: “The Palms is a well-designed property which has been beautifully redeveloped and maintained by Red Rock Resorts. Our Board believes that the Palms is a casino resort that many of San Manuel Casino’s loyal guests would enjoy. We are excited to move forward with this transaction.”