The resort was sold to San Manuel Band of Mission Indians
Red Rock Resorts to sell the Palms Casino Resort for $650M
The transaction is subject to regulatory approvals and other customary closing conditions.
2021-05-04
Reading time 34 seg
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.
Red Rock Resorts, Inc. today announced a definitive agreement between its subsidiary Station Casinos and a subsidiary of the San Manuel Band of Mission Indians to sell the Palms Casinos Resort for $650 million in cash, subject to customary adjustments.
"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.”
Red Rocks Resorts operates Station Casinos including Palms, Red Rock Casino, Green Valley Ranch, Palace Station and more.
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