The San Manual Gaming and Hospitality Authority (SMGHA) and the San Manuel Band of Mission Indians have announced an agreement to purchase the Palms Hotel and Casino from Red Rock Resorts in a deal worth $650 million.
The deal is expected to close in late 2021 and is subject to the tribe receiving regulatory approval to operate within the state.
Speaking of the deal, San Manuel Chairman Ken Ramirez said:
“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.”
SMGHA Chairwoman Latisha Casas added:
“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.”
The San Manuel Tribe has shown an interest in Las Vegas for quite some time and has supported the local community through donations to Las Vegas non-profits and various schools and institutions in the area. The tribe also has partnerships with both Las Vegas pro sports teams, The Vegas Golden Knights and the Las Vegas Raiders.
The Palms is significantly larger than the tribe’s San Manuel Casino comprising over 700 hotel rooms and suites, a 2,500-seat theater, pool, spa, and a variety of dining and gaming options.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.