The Palms Casino’s Reopening is Set to Take Place this Spring

San Manuel Tribal Palms Reopening Soon

Nevada’s gambling industry continues to face shake-ups. Many new groups are working hard to break into this city. This week, more information on The Palms Casino’s reopening was officially released to the public.

The Palms has a rich and fascinating history. Many are excited to see this venue back up and running. Today, we’ll talk about some of the details surrounding this venue’s reopening.

Let’s get into it!

San Manuel Gaming Prepares for the Palms Casino’s Reopening

Las Vegas is home to many of the most impressive gambling properties in the world. Back in 2001, the Palms Casino Resort opened its doors to the public. It changed ownership hands over the years, eventually being purchased by Red Rock Resorts in 2016.

This year, officials within Red Rock announced the sale of this property to San Manuel Gaming and Hospitality Authority. This Native American gaming company has been working hard to expand around the country. It paid an impressive $650 million to take control of this popular casino.

The Nevada Gaming Commission officially gave permission for San Manuel Gaming to assume ownership of The Palms Casino this week. That allows for The Palms Casino’s reopening to take place this spring. To the surprise of some, the San Manuel Tribe plans to retain many of the employees that worked in the Palms during Red Rock’s ownership. San Manuel Gaming chairwoman Latisha Casas spoke about the reopening of this venue to the media this week.

“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,” Casas said. “Together, we will create history.”

An official date for the reopening of The Palms Casino has not been revealed. We’ll be sure to offer updates on this property as soon as they come out.

Analysts Expect More Las Vegas Casino Sales in 2022

The past twelve months have been very interesting for casino companies in Nevada. This state remains the largest gambling hub in the country. Throughout 2021, the casino companies here took part in numerous sales and purchases.

MGM Resorts was involved in many of these sales. It made headlines by taking control of The Cosmopolitan a few months ago. News surfaced just a few weeks ago that this company has agreed to sell The Mirage in a $1 billion deal with Hard Rock International.

Many analysts now expect to see more major casino sales taking place in 2022. A huge number of gaming operators are looking to break into the Las Vegas market. That includes various Native American gaming groups.

The Palms Casino’s reopening shows the growth of tribal gaming groups in Las Vegas. This city fared extremely well last year. Tribal groups are now eager to earn some of the revenue that Las Vegas has been experiencing.

Nevada’s casino industry is in a great position right now. Expect to see more impressive casino revenue figures here over the next few months.

More States Prepare for Casino Industry Expansion

Nevada was not the only state to experience impressive casino revenue surges in 2021. Nearly every state with a large number of casinos has brought in a large amount of revenue. Many states are now interested in expanding their casino industries next year.

New Jersey is one state expected to expand its gambling industry next year. Not long ago, lawmakers here approved a PILOT bill to lower tax rates on the casinos here. This should allow for the state’s casinos to retain more revenue and undergo renovations.

New York also seems focused on earning more revenue from its regulated gambling options. Nearly all of the casinos here are based in the Upstate area. A growing number of individuals are pushing hard to see a Class III casino open in New York City soon.

Officials in smaller casino destinations such as Colorado and Pennsylvania want to open new gambling venues. These states saw impressive revenue gains throughout 2021. The next twelve months are expected to be even more impressive.

Are you excited to hear about The Palms Casino’s reopening? Will this property be successful? Let us know in the comments section below.