We are excited to move forward with this transaction. The deal is expected to close later in and is subject to regulatory approvals and other closing conditions. The Palms has been closed since March when the coronavirus pandemic resulted in casino closures across the state for 78 days.
Located a little over a mile west of Interstate 15 on Flamingo Road, the resort includes a 94,square-foot casino, multiple casual and upscale dining options, meeting and convention space, a 2,seat theater, pool and spa, other amenities and the Palms Place condominiums.
The Palms, like other casinos, was shuttered during the statewide shutdown and stayed closed. Station Casinos would instead reopen the off-Strip resort from pandemic closures based on demand trends, he said. The company invested too much money and focus into nightlife and daylife at the Palms at a time when there was plenty of competition in the Las Vegas Valley, he said.
We were actually starting to get some traction on the casino side and the overall operation side of the business. The tribe had considered entering the Las Vegas market for the past two or three years and has looked for economic diversification opportunities for the last couple decades, he said. Harrah College of Hospitality and Boyd Law School — its largest out-of-state philanthropic gift to an educational or health care institution.
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The condo tower opened in February Also in , Mariah Carey performed at The Pearl theater. The Palms began experiencing financial trouble in during the Great Recession and began missing loan payments. Local News. Actions Facebook Tweet Email. History of Palms hotel-casino in Las Vegas. By: Joyce Lupiani. Copyright Scripps Media, Inc.
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