“We are incredibly proud of how we transformed this iconic property,” Red Rock Resorts Executive Vice President and Chief Financial Officer Stephen Cootey said Tuesday.
The gaming company and tribe announced the deal Tuesday, nearly five years to the day Red Rock Resorts struck a deal to buy the Palms from the Maloof family in 2016 for $312.5 million.
Now Red Rock Resorts is selling the Palms to the San Manuel tribe for $650 million, or $40 million less than the company paid to renovate the 700-room, 19-year-old property. (Erik Verduzco / Las Vegas Review-Journal) Palms wasn’t for sale until the San Manuel Band of Mission Indians came calling. The Palms hotel-casino in Las Vegas, Tuesday, May 4, 2021.
