The San Manuel Gaming and Hospitality Authority announced on Friday that it has received approval from the Nevada Gaming Commission as licensees for the Palms Casino Resort in Las Vegas.
Said SMGHA Chairwoman Latisha Casas in a statement:
“We are grateful for this opportunity to share our long-standing tradition of hospitality with Las Vegas and execute our vision for this iconic resort, starting by welcoming back former and current Palms employees. Together, we will create history.”
The approval came on Thursday, or two weeks after the Nevada Gaming Board recommended approval of the $650 million purchase from Red Rock Resorts. With a gaming license in place, the acquisition closed on Friday.
History Was Made
Indeed history was made with the Nevada Gaming Commission’s approval. Connecticut’s Mohegan Tribe currently operates the casino inside Virgin Hotels Las Vegas under a lease agreement. But the San Manuel Band of Mission Indians are the first Native American Tribe to both own and operate a casino resort in Las Vegas.
The Tribe is the owner of the Yaamava’ Resort & Casino in San Manuel, Highland, California. That casino is the former San Manuel Casino which started as a Bingo Hall way back in 1935. Incidentally, that new property launched on the same week that the Nevada Commission signed off on the Palms sale.
The Palms was one of the four properties of Red Rock Resort that remained closed following the state’s 78-day shutdown on gaming last year at the height of the pandemic. Last May, San Manuel announced that it would purchase the property from Station Casinos, the parent company of Red Rock Resorts, for $650M in cash.
Spring 2022 Reopening
With little capital improvement needed on the Palms Casino after its previous owner had spent roughly $1 billion to renovate an expand the off-Strip property, San Manuel representatives that they plan to reopen the casino in the spring of 2022.
In addition to the casino, the Palms has more than 700 hotel rooms and suites, multiple casual and upscale dining options, a meeting and convention space, a 2,500-seat theater, pool and spa, and the Palms Place condominium.
The reopening would require 1,000 new jobs ranging from casino, operations, hotel management, food and beverage, along with supervisory positions. According to the Tribe, the job applications process is already underway. Within days after the close of the deal, guests can start making reservations at Palms Place. Meanwhile, reservations for Palms Casino resort will be available in the early part of 2022.