purchase Bally’s<\/a>.<\/p>\nDetails of the Palms purchase aren’t available yet, but we wanted to drop some boom, anyway.<\/p>\n
More to come!<\/p>\n
Update (4\/30\/21): As promised we’ve got updates up the yang. We’re hearing the sale price of Palms to San Manuel is in the neighborhood of $660 million. (See below for an update. Sale price is confirmed at $650 million.)<\/p>\n
The Palms sale deal with San Manuel is expected to close in about 90 days.<\/p>\n
We understand San Manuel plans to reopen Palms as quickly as possible after the sale is finalized, and the resort will keep the Palms name (which makes sense, as it’s still a strong, recognized brand). A Palms job fair in the coming weeks is anticipated.<\/p>\n
Early plans do not include a splashy dayclub\/nightclub scene, or expensive headliner entertainment, avoiding some pitfalls of the prior ownership.<\/p>\n
We assumed none of the existing restaurant partnerships, such as with Michael Symon at Mabel’s, wouldn’t survive the change in ownership, but it appears discussions are being had to carry certain venues over.<\/p>\n
The timing of the reopening of Palms is not only contingent upon staffing up, but San Manuel doesn’t currently have a Nevada gaming license. We understand the license approval will be fast-tracked, but it’s unknown when that will be finalized.<\/p>\n
Check back again for all the exclusive scoop about the Palms casino sale to the San Manuel tribe! Exciting changes are in the works at this popular off-Strip casino resort.<\/p>\n
Update (5\/4\/21): The sale of Palms to San Manuel has been confirmed<\/a>. The sale price is $650 million. The transaction is expected to close by the end of 2021. Translation: Boom.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"As we reported days ago, Palms Casino has reportedly been sold. Now, we can share who’s buying: The San Manuel Band of Mission Indians. San Manuel runs an wildly successful casino in Southern California, but this is the first time the tribe has undertaken a venture in Las Vegas. This scoop hasn’t been officially confirmed, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,24,2],"tags":[],"acf":[],"yoast_head":"\n
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