California tribe buying Palms in Las Vegas for $650M

May 6, 2021

California tribe buying Palms in Las Vegas for $650M

An exterior view of the Palms in Las Vegas on Monday, April 26, 2021. (Chase Stevens/Las Vegas ...

An exterior view of the Palms in Las Vegas on Monday, April 26, 2021. (Chase Stevens/Las Vegas Review-Journal) @csstevensphoto An exterior view of the Palms in Las Vegas on Monday, April 26, 2021. (Chase Stevens/Las Vegas Review-Journal) @csstevensphoto An exterior view of the Palms in Las Vegas on Monday, April 26, 2021. (Chase Stevens/Las Vegas Review-Journal) @csstevensphoto An exterior view of the Palms in Las Vegas on Monday, April 26, 2021. (Chase Stevens/Las Vegas Review-Journal) @csstevensphoto Caesars revenues up 259 percent in the first quarter Red Rock Resorts to move forward with casino project Cosmopolitan’s casino gets OK to return to full capacity Strip room rates already spiking for 2022 NFL Draft A California Indian tribe is set to become the new owner of the off-Strip Palms Casino Resort by the end of the year.

The San Manuel Band of Mission Indians and the San Manuel Gaming and Hospitality Authority confirmed Tuesday that it is acquiring the 700-room, 19-year-old property from Red Rock Resorts. The sale price was $650 million, Red Rock Resorts announced Tuesday.

The tribe will become the second tribal enterprise to enter the Las Vegas market this year with Mohegan Gaming and Entertainment operating the casino at Virgin Hotels Las Vegas, which opened in March.

“Today represents an important step for the tribe and its long-term economic diversification strategy,” San Manuel Chairman Ken Ramirez said in a release announcing the transaction. “On behalf of the tribe, we are thankful for the opportunity to join a community that we have […]

Click here to view original article at www.reviewjournal.com

Owen Herne
Attorney, Herne Law, PLLC

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Robert Doe
December 12, 2015
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Robert Doe
December 12, 2015
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Robert Doe
December 12, 2015
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Robert Doe
December 12, 2015
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