With the Palms Casino Resort looking to reopen later this month after more than two years of absence from the Las Vegas gambling scene, William Hill is looking to run the retail sportsbook at the said gambling property.
The Nevada Gaming Control Board is set to discuss an application by William Hill to operate the sportsbook at the Palms during its April 6th meeting. William Hill’s application is for a non-restricted license, meaning it is only applicable to a race book and sportsbook.
Change in Ownership
Although William Hill used to operate the retail sportsbook at the Palms Casino before its closure, the company needs to acquire a new license to operate it since the gambling property changed ownership since it was shut down.
In May 2021, Red Rock Resorts sold Palms to the San Manuel Band of Indians for $650 million in cash. The purchase was unanimously approved by the Nevada Gaming Commission last December, just two weeks after the Board recommended approval. The approval marked the first time that an American Indian owned enterprise got to own and operate a casino resort in Las Vegas.
The only other tribal entity to have a presence in Sin City is the Mohegan Indian Tribe which operates the casino inside Virgin Hotels Las Vegas but it is under a lease.
One of Four Shuttered Red Rock Properties
The Palms was one of four Red Rock properties that remained closed after the state’s 78-day shut down of gaming between March 18 and June 4, 2000 because of the COVID-19 pandemic. The other three properties – Fiesta Henderson, Fiesta Rancho, and Texas Station, remain shuttered.
Although Red Rock executive said last year that they have no plans of selling the other three closed casinos, the company has been mum about their future. Instead, Red Rock is focused on its $750 million 83,000 square foot Durango casino project which will start this year.
Red Rock took a huge hit from the Palms. It acquired the property from the Maloof family in 2016 for $312.5 million and invested another $690 million to enhance the off-strip property.