What do you get when you combine a billionaire owner, amazing amenities, and booming revenues and profits? You get the Palms Casino, of course!
But who owns this luxurious Las Vegas landmark? That’s the question you’ll find answered in this article.
Come take a look at who’s pulling the strings behind the scenes at the Palms Casino and what makes it so successful.
Key Takeaways
- Frank Fertitta III is the current owner of the Palms Casino.
- Previous owners of the Palms Casino include the Maloof family, TPG Capital, and Leonard Green & Partners.
- The Palms Casino was acquired by Station Casinos in 2016.
- The Palms Casino is located in Las Vegas, just off the Strip, and offers a range of amenities including a spa, pool, fitness center, restaurants, bars, and a nightclub.
Current Owner: Billionaire
You may be wondering who’s the current owner of the Palms Casino in Las Vegas. The answer is billionaire Frank Fertitta III. But it wasn’t always this way. The Palms Casino has had a long history of ownership. It began with the Maloof family and continued through various other owners before ending up with Fertitta III.
Let’s take a look at the timeline of ownership of the Palms Casino and see how it got to where it is today.
Historical Ownership Timeline
Since its opening in 2000, the Palms Casino has had several owners, with its most recent acquisition in 2016 by Station Casinos. Here’s a look at the historical timeline of ownership for the casino:
- In 2000, the Palms Casino opened, owned by the Maloof family.
- In 2011, the Palms Casino was sold to the private equity firm TPG Capital and Leonard Green & Partners.
- In 2016, Station Casinos purchased the Palms Casino.
The Palms Casino is highly praised for its luxurious amenities, exciting gaming floor, and excellent customer service. As a result, reviews from customers have been overwhelmingly positive.
In addition, the Palms Casino provides job opportunities to local residents, helping to boost the economy in the region.
About the Casino: Amenities
You’re in the perfect place to enjoy a luxurious getaway! Located in Las Vegas, the Palms Casino has everything you need for a memorable experience.
From slots and poker to an amazing pool and spa, you’ll find something to make your stay truly special.
So come on in, and let the Palms Casino take you away!
Location: Las Vegas
Located in Las Vegas, the Palms Casino is owned by Station Casinos. It is located just off the Strip, making it easy to access the city’s luxury shopping, local attractions, and of course, legendary nightlife.
The Palms is conveniently situated near the airport, just ten minutes away. The hotel offers a wide range of amenities, including a full-service spa, an outdoor pool, and a fitness center. The casino offers plenty of gaming, from traditional table games to the latest slot machines.
There are also five restaurants, two bars, and a nightclub onsite. The Palms also offers a variety of entertainment options, such as live music and comedy shows. Whether you’re looking for a luxury vacation or a night of fun and games, the Palms Casino is the perfect destination.
Games: Slots, Poker
At the Palms, you can enjoy a variety of games, from slots to poker. Whether you’re a fan of online gambling or prefer the classic table games, there’s something for everyone.
The Palms is home to the latest slot machines, offering a huge variety of games and generous payouts. For those looking for a more traditional gaming experience, the Palms offers plenty of table games such as blackjack, roulette, and baccarat.
The Palms also has a wide range of poker games, from Texas Hold’em to Seven Card Stud. Whether you’re a beginner or a seasoned pro, the Palms has something to offer. There are even tournaments held every night, allowing players to compete for huge payouts.
With so many games and activities, it’s easy to see why the Palms is one of the most popular casinos in Las Vegas.
Amenities: Pool, Spa
You’ll love the amenities at the Palms Casino!
Take a dip in the pool, or treat yourself to a relaxing spa day.
Enjoy live entertainment while you eat from a variety of delicious food options. Whether you want a classic American burger or a gourmet Mexican dish, you can find it all here.
Plus, you can dance the night away with top DJs and bands, or take a break and watch the sports games on the big screens.
With so much to do, you’ll never want to leave the Palms Casino.
Current Revenues & Profits
You’re making a great choice when you invest in the Palms Casino; it has consistently generated high revenues and profits. The Palms Casino offers a luxe experience for customers, with excellent customer service, amenities, and features that keep them coming back. The casino has a variety of gaming and dining options, as well as a pool and spa to relax in after a long day.
The Palms Casino has seen an increase in revenues and profits in recent years, due to its strong reputation and customer loyalty. The revenue generated from gaming activities has increased by 8% in 2019, while profits have increased by 16%. The casino also generates revenue from its restaurants and other amenities.
| Revenue | 2019 ($M) | 2020 ($M) |
|---|---|---|
| Gaming | $33.2 | $35.9 |
| Restaurants | $11.2 | $12.5 |
| Amenities | $3.5 | $3.7 |
| Profits | $7.2 | $8.4 |
The Palms Casino has also seen an increase in profits from its hotel and convention center, as well as its other amenities. The hotel has seen a 5% increase in profits in 2019, while the convention center has seen a 10% increase in profits. The Palms Casino also generates income from its other amenities, such as its pool and spa. Overall, the Palms Casino is a great investment, with profits and revenues continuing to increase year over year.