The Palms Casino Las Vegas: A Comprehensive Guide to Ownership, History, and Amenities

Introduction

The Palms Casino Las Vegas is a renowned landmark and entertainment destination on the Las Vegas Strip. The property has been owned by various entities throughout its history, each contributing to its distinctive character and success. This article provides a comprehensive overview of the Palms Casino Las Vegas, including its ownership history, iconic features, and current offerings.

Ownership History

Original Owners: Frank Fertitta III and Lorenzo Fertitta

• Brothers Frank and Lorenzo Fertitta, founders of the Station Casinos group, acquired the land for the Palms in 1996.
• They developed and opened the casino in 2001, marking a significant addition to the Las Vegas Strip.

Sale to George Maloof Group (2007)

• The Fertitta brothers sold the Palms to The Maloof Group, owned by the Maloof family, in 2007.
• The Maloofs invested heavily in the property, adding new amenities and renovations.

Acquisition by TRIBECCA (2016)

• In 2016, TRIBECCA, a real estate development company led by Las Vegas investor Alex Yemenidjian, acquired the Palms from the Maloofs.
• TRIBECCA embarked on a major redevelopment of the property, aiming to enhance its appeal to a wider audience.

Iconic Features

The Palms Casino Las Vegas is renowned for its striking architectural design and innovative features, including:

Ghostbar

• A rooftop bar and lounge known for its breathtaking panoramic views of the Las Vegas Strip.

Pool at Palms

• A lush pool complex with private cabanas, daybeds, and adult-only areas.

Pearl Concert Theater

• An indoor concert venue with a capacity of 2,500, hosting performances by renowned musicians.

Current Ownership and Management

As of 2023, the Palms Casino Las Vegas is owned and operated by San Manuel Gaming and Hospitality Authority, a federally recognized Indian tribe.

San Manuel Gaming and Hospitality Authority

• The San Manuel Band of Mission Indians is a Native American tribe located in Southern California.
• The tribe owns and operates multiple gaming and entertainment properties, including the Palms Casino Las Vegas.

Management Team

• The Palms Casino Las Vegas is managed by Three60 Management, a gaming and hospitality management company.
• Three60 Management has a proven track record of success in developing and operating casinos and resorts.

Amenities and Entertainment

The Palms Casino Las Vegas offers a wide range of amenities and entertainment options, catering to various tastes and preferences:

Casino:

• 95,000 square feet of gaming space
• Over 1,500 slot machines
• Table games, including blackjack, roulette, and baccarat

Dining Options:

• A variety of restaurants, including fine dining, casual dining, and 24-hour dining options

Nightlife and Entertainment:

• Ghostbar
• Apex Social Club
• KAOS Nightclub
• Playboy Club

Shopping:

• The Shops at Palms Place, offering a range of boutiques and luxury retailers

Spa and Fitness:

• The Palms Spa
• The Palms Fitness Center

Financial Performance

The Palms Casino Las Vegas has consistently performed well financially, generating significant revenue and profit.

Revenue and Profitability:

• According to the Nevada Gaming Control Board, the Palms Casino Las Vegas generated approximately $550 million in revenue in 2022.
• The property has maintained a profit margin of around 15-20% in recent years.

Future Plans

The Palms Casino Las Vegas is poised for continued growth and success under the ownership of San Manuel Gaming and Hospitality Authority. The tribe plans to invest in further renovations and enhancements to the property, including:

• Updates to the casino floor
• Expansion of dining and nightlife options
• New entertainment venues

Stories and What We Learn

Throughout its history, the Palms Casino Las Vegas has been the setting for various memorable stories and lessons:

Story 1: The Maloof Dynasty

• The Maloof family's ownership of the Palms was marked by a focus on entertainment and nightlife.
• They introduced popular amenities like Ghostbar and hosted notable events, elevating the property's status.
• Lesson: Investing in entertainment and creating memorable experiences can attract and retain customers.

Story 2: The TRIBECCA Redevelopment

• TRIBECCA's redevelopment of the Palms aimed to appeal to a broader demographic.
• They added new amenities, redesigned the casino floor, and introduced new dining and nightlife concepts.
• Lesson: Renovate and adapt to changing customer preferences to stay competitive.

Story 3: San Manuel's Commitment

• San Manuel Gaming and Hospitality Authority's acquisition of the Palms signifies their commitment to the Las Vegas market.
• The tribe has invested heavily in the property and plans for further enhancements.
• Lesson: Long-term ownership and investment can provide stability and growth for a casino property.

Step-by-Step Approach to a Successful Casino Experience at the Palms

1. Choose the right game: Research and select a game that aligns with your preferences and skill level.
2. Set a budget: Determine a comfortable spending limit and stick to it.
3. Join the loyalty program: Sign up for the Palms Rewards card to earn rewards and discounts.
4. Dress appropriately: Respect the casino dress code to avoid any discomfort.
5. Learn the rules: Familiarize yourself with the game rules to enhance your chances of winning.
6. Manage your emotions: Stay calm and focused, regardless of wins or losses.
7. Take breaks: Step away from the gaming floor periodically to rest and clear your mind.

FAQs

1. Who currently owns the Palms Casino Las Vegas?
- San Manuel Gaming and Hospitality Authority

2. What is the name of the rooftop bar at the Palms Casino Las Vegas?
- Ghostbar

3. How many slot machines are there at the Palms Casino Las Vegas?
- Over 1,500

4. Does the Palms Casino Las Vegas have a spa?
- Yes, The Palms Spa

5. What is the name of the casino's loyalty program?
- Palms Rewards

6. Is there a dress code at the Palms Casino Las Vegas?
- Yes, Business casual is recommended.

Tables

Table 1: Palms Casino Las Vegas Ownership History

Table 2: Palms Casino Las Vegas Financial Performance

Table 3: Palms Casino Las Vegas Amenities