Fertitta brothers spend nearly $1 billion to renovate Palms Casino

The Palms has unveiled a new casino floor, new restaurants, new rooms, updated theaters, and has been building new day clubs and night clubs. (FOX5)

The Palms Casino Resort had been struggling for years until the Fertitta brothers announced Station Casinos would buy the property for hundreds of millions of dollars in 2016. At the time, they announced that there would eventually be renovations. Since then, the Palms has unveiled a new casino floor, new restaurants, new rooms, updated theaters, and has been building new day clubs and night clubs.

The "Palms: From Dust to Gold" campaign has proven to be expensive, but potentially rewarding. The entire casino has already become more modernized.

"As we got into it deeper we said, 'Man this place has great bones. Let's go all in. Let's go big with this,'" General Manager Jon Gray said. "We knew we couldn't just bring the Palms back with one or two new venues, so the complete overhaul was really necessary to bring this place back. That's what's most exciting: to be a part of it."

Station Casinos purchased the Palms in 2016 for about $312 million. Since then, the new owners have pumped about $620 million more into renovations.

[RELATED: Palms acquired by Station Casinos for $312.5 million]

The gaming company announced that it would be increasing its redevelopment budget for the Palms by $135 million earlier this year to accelerate the third phase of its renovation plan.

Key elements of the renovations included a casino floor expansion and new restaurants featuring celebrity chefs like Bobby Flay and Michael Symon. The casino replaced its iconic sign with a new digital version in Feb.

[PICTURES: Palms marquee removed for new digital display]

So far, one of the most popular additions came with the opening of Scotch 80 Prime, a new steakhouse at the Palms. Employees said Deryk Engelland of the Vegas Golden Knights has already become a regular.

"We've got great reviews. We have several repeat customers," Gray said. "We've had guests come back eight times now in the month that it's been open."

When the renovations are complete, Gray said the Palms will have the largest day club in Las Vegas.

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