Palms Las Vegas has been sold for a California tribe for millions.

LAS VEGAS (FOX5) -- Palms Las Vegas has been sold for a California tribe for millions.

Red Rock Resorts and the San Manuel Gaming and Hospitality Authority announced Tuesday that Palms was sold to the San Manuel Band of Mission Indians for $650 million in cash. San Manuel estimated the deal will close in late 2021. 

The San Manuel Band of Mission Indians is new to the Las Vegas market, but they're already making an impact in the community.

"Today represents an important step for the Tribe and its long-term economic diversification strategy,” San Manuel Chairman Ken Ramirez said. “On behalf of the Tribe, we are thankful for the opportunity to join a community that we have come to know and appreciate.”

"We think this is up to the regulators and the licensing authorities. We are ready to go and so it's really a question of hopefully several months and hopefully getting this wrapped up by the end of the year. That would be our hope," said COO Rikki Tanenbaum.

Leaders also discussed employment opportunities.

"I think the previous owners had about 1,300 employees or so. We'll probably be very similar," said CEO Laurens Vosloo.

Palms will be sold to California tribe for $650 million.

Geoconda Argüello-Kline with the Culinary Union said they will continue negotiations:

The Culinary and Bartenders Unions are recognized as the bargaining representative at the Palms Casino and are currently in negotiations with Station Casinos for a first union contract. We will continue negotiations with current and future owners to ensure workers are protected and jobs are retained.

The Culinary Union looks forward to completing a first union contract - whether it’s before the sale of the property is completed and the new owners are licensed, or after.

PALMS CASINO 2

The Palms located at 4321 W Flamingo Rd, Las Vegas, NV 89103 in October 2020.

The owners say they plan to keep the Palms name for now but say they are keeping their options open on the name down the road.

Red Rocks Resorts operates Station Casinos including Palms, Red Rock Casino, Green Valley Ranch, Palace Station and more.

Copyright 2021 KVVU (KVVU Broadcasting Corporation). All rights reserved.

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(1) comment

seanwally

The reason all these casino companies are selling is because gambling is not returning like they imagined it would. People are realizing and waking up to the fact that gambling is stupid and for fools who think they are going to win. Casinos even went as far as coming up with people who apparently won but there is no proof of that in all things promoted! Just ask the criminals if they would reveal their tactics to you;) I'm afraid people are misled once again and this sale of the decade was already going to happen and many more casinos will have fallen as soon as new strains arrive. Plus , why would you go into a public place like a casino packed with people who flew here on $19 and have no money??? This is a recipe for disaster as more fights will break out and violence because of these unreasonable animals thugging around wearing pants dropped around their ankles! We may as change the name Las Vegas to Les Pants;)

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