The San Manuel Band of Mission Indians in Southern California has announced an agreement to purchase the shuttered Palms casino for $650 million from Red Rock Resorts. The announced deal is expected to close later this year subject to the usual Gaming Control Board review and regulatory issues.
Living in Southern California I’m very familiar with the huge San Manuel Casino in Highland which at the moment is being expanded with an additional 432 rooms new dining options, event space as well as an expanded high limit gaming area. The casino has been very successful and has nearly 5,000 employees for the property in San Bernardino County, California.
Many Native American tribes with gambling have shown interest in the Las Vegas market for a while so the announcement isn’t really a surprise and, brings some much needed competition with new owners to Las Vegas.
The Palms has 700 hotel rooms and suites as well as multiple restaurants and food options as well as meeting and convention space, a 2,500 seat theater, a new pool and spa area as well as the Palms Place condominiums. The Palms at one time was the happening place to be in Las Vegas but in recent years has struggled to find its place even after an expense remodel by Red Rock Resorts.
The purchase makes sense for the San Manuel Band of Mission Indians who now can have members who earn points on there players card at their Southern California casino use it for comps at the Palms in Las Vegas; As many visitors to Native American casinos in Southern California also visit Las Vegas often it makes good synergy between the two properties.
This is also a good deal for Red Rock Resorts who spent a lot of money to remodel the Palms without a big payback who now can concentrate on its locals casinos.