Welcome to Vegas Boards!

The only Las Vegas Message Board and forum built by enthusiasts for enthusiasts.
Join today for free!

Palms sold to Red Rock/Stations Casinos

Discussion in 'Gaming & Casino Industry' started by DannyOcean, May 10, 2016.

  1. DannyOcean

    DannyOcean
    Expand Collapse
    Opening the Champagne
    Founder's Club

    Joined:
    Feb 10, 2016
    Messages:
    1,131
    Likes Received:
    1,063
    Location:
    Houston
    Trips to Vegas:
    20
    You must be a registered user with confirmed email address to view this content.
    Register or Login


    For $312.5 million.
     
    • Like Like x 1
  2. Malibugolfer

    Malibugolfer
    Expand Collapse
    "What doesn't kill you makes you strong."
    Founder's Club

    Joined:
    Feb 7, 2016
    Messages:
    635
    Likes Received:
    184
    Location:
    SoCal born and raised
    Trips to Vegas:
    100
    Seems like a good deal for RR. Boyd paid $80M or so more for the bankrupt Aliante if memory serves.
     
  3. paperposter

    paperposter
    Expand Collapse
    Junior Member
    Founder's Club

    Joined:
    Mar 10, 2016
    Messages:
    210
    Likes Received:
    59
    Location:
    las vegas
    Trips to Vegas:
    999999999999999999
    it will interesting if they get rid of the palms player club because it treat table players like shit
     
  4. thefish2010

    thefish2010
    Expand Collapse
    Member
    Founder's Club

    Joined:
    Feb 8, 2016
    Messages:
    478
    Likes Received:
    446
    For a few more details...

    You must be a registered user with confirmed email address to view this content.
    Register or Login


    Although most people on here easily dismiss the Palms, it really is a great property with some truly amazing suites at the high end. The sky villas there are the only high-end suites in Las Vegas with both a large pool/jacuzzi and an amazing view (with the exception of one suite at Red Rock, but that's very far off the strip so the view isn't as good). Station seems to do OK with Red Rock, so I view this as a positive. At least their BJ limits will go higher and they'll reopen the high limit room.
     
    • Like Like x 1
  5. paperposter

    paperposter
    Expand Collapse
    Junior Member
    Founder's Club

    Joined:
    Mar 10, 2016
    Messages:
    210
    Likes Received:
    59
    Location:
    las vegas
    Trips to Vegas:
    999999999999999999
    best thing about the palms is the pot shop across the street
     
  6. thefish2010

    thefish2010
    Expand Collapse
    Member
    Founder's Club

    Joined:
    Feb 8, 2016
    Messages:
    478
    Likes Received:
    446
    My point exactly.
     
  7. VEGASBJ

    VEGASBJ
    Expand Collapse
    Member
    Founder's Club Gold Linker

    Joined:
    Feb 2, 2016
    Messages:
    2,521
    Likes Received:
    1,152
    Location:
    Rolling Hardways!
    Trips to Vegas:
    257
    that seems like a great price considering TI sold for like $700-$800 million a few years back. Can't even build anything close to that price
     
    • Agree Agree x 2
  8. VEGASBJ

    VEGASBJ
    Expand Collapse
    Member
    Founder's Club Gold Linker

    Joined:
    Feb 2, 2016
    Messages:
    2,521
    Likes Received:
    1,152
    Location:
    Rolling Hardways!
    Trips to Vegas:
    257
    never stayed there, and I guess being off strip is a turn off, but they used to dominate the night club and pool party scene some years back. If they can recapture the mojo, it will be a great investment. I think the RIO is trying to sell for around the same price, good luck on that now!
     
    • Haha Haha x 1
  9. thefish2010

    thefish2010
    Expand Collapse
    Member
    Founder's Club

    Joined:
    Feb 8, 2016
    Messages:
    478
    Likes Received:
    446
    Especially considering they have something like $1.2 billion invested in the place. The original hotel was about $265 million, the Fantasy Tower was another $600 million, and Palms Place was another $350 million. Station got it at a ~$900 million discount, and now the economics of running it the way it should be run will make sense without the enormous debt service.
     
    #9 May 10, 2016
    Last edited: May 10, 2016
    • Agree Agree x 1
  10. NvrSumR

    NvrSumR
    Expand Collapse
    Junior Member
    Founder's Club

    Joined:
    Feb 5, 2016
    Messages:
    113
    Likes Received:
    52
    Trips to Vegas:
    16
    And Maloof's condo is for sale.
    You must be a registered user with confirmed email address to view this content.
    Register or Login
     

Related Threads

Share This Page

Loading...