Nevada based casino operator Station Casinos announced its plans to purchase the Palms resort, located off the Strip, for a $312.5 million price tag as part of its expansion plans.
The operator’s casinos include Green Valley Ranch, Red Rock Casino Resort & Spa, Boulder Station, Palace Station and several others across Nevada and the US.
In a statement regarding the Palms, Red Rock’s CFO, Marc Falcone, said, “With the acquisition of the Palms we gain a leading gaming asset in Las Vegas with key strategic benefits in the Las Vegas locals market and close proximity to the Las Vegas Strip,. With its appeal to both Las Vegas residents and tourists alike, the Palms is a hybrid gaming property that is uniquely positioned to benefit from the strong economic trends in Southern Nevada and record visitation levels in Las Vegas.”
The Palms is situated on Flamingo Road and is home to a sprawling 95,000-square-foot casino floor, just over 700 hotel rooms in its two towers, a race and sportsbook, a spa, restaurants, nightlife, entertainment and much more.
Also in a statement on Tuesday, Geoconda Arguello-Kline, the Culinary Union’s secretary-treasurer, commented on the acquisition as he commented on how the union has “seen many casinos and owners come and go”; however “the Union and workers who helped build this town will always be here.”
The union has attempted to organize workers within Station Casinos without success so the acquisition doesn’t come without its issues.
“The workers at the Palms have made it clear that they want a fair process to choose whether to unionize,” Arguello-Kline added. “We will continue to work with the Palms employees until they achieve their goal.”
JennaROX
8 years ago
Hero Member
WOW! This is interesting! Those Maloof boys are pretty much out of the casino scene, now, I suppose? The Palms was my go to resort for many years & I loved staying there but not playing there! Never seemed to hit very well there. However, the Station casinos, particularly Red Rock & Green Valley are some of the most generous...
WOW! This is interesting! Those Maloof boys are pretty much out of the casino scene, now, I suppose? The Palms was my go to resort for many years & I loved staying there but not playing there! Never seemed to hit very well there. However, the Station casinos, particularly Red Rock & Green Valley are some of the most generous casinos in Vegas. Neither one is any where near the strip but for the past 10 years I have made a point to do most my gambling off the strip. This new merger, will bring the best of two worlds together & I will definitely take more interest in what the Palms is offering over the next two years. :) Happy about this one!
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