When Palms first opened in 2001 it became a hotspot for celebrities and tourists but it has another side many tourists don’t know about. Conceptually, Palms fits nicely into the Station Casinos model. In addition to their properties scattered around the Vegas suburbs, Station Casinos now has a property just off the north and central segments of the Vegas Strip with Palace Station and Palms, respectively.
According to a representative on their recent earnings call the purchase of Palms casino resorts will give Station Casinos much better access to an area of Las Vegas where there Boarding Pass players club lags members. Palms should become a Station Casinos property in the third quarter this year (the fourth quarter at the latest). Last week Red Rock Resorts (parent company of Station Casinos) announced that they were purchasing Palms Casino Resort of $312 million.
