The property also includes Palms Place condo units. The 19-year-old Palms includes a casino, 700-room hotel, a range of dining facilities, meeting and convention space, a 2,500-seat theater, pool and pool. The parties expect the deal to close later this year, pending regulatory approvals and other closing conditions.
(Nasdaq: RRR), for $650 million in cash, subject to customary adjustments, according to an announcement on Tuesday.
The Southern California tribe has signed a definitive agreement for a subsidiary of its San Manuel Gaming and Hospitality Authority to acquire the property from Station Casinos LLC, a division of Las Vegas-based Red Rock Resorts Inc. The San Manuel Band of Mission Indians has continued its investment in Las Vegas with a deal to acquire the Palms Casino Resort.
