![]() ![]() With our experience owning and operating other hybrid offerings in Las Vegas, it is a compelling strategic addition to our portfolio of properties and we look forward to welcoming the Palms' team members to our Company. 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. Marc Falcone, Executive Vice President, Chief Financial Officer, and Treasurer of Red Rock Resorts released the following statement: 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. The transaction is expected to close during the third quarter of 2016, subject to satisfactory closing conditions. The company estimates that the Palms will generate $35 million during their first year of ownership. ![]() The definitive agreement with the Palms Casino Resort will go for a total considered sale of $312.5 million. LAS VEGAS (KSNV News3LV) - Red Rock Resorts announced Tuesday that Station Casinos has entered an agreement to acquire the Palms in Las Vegas. ![]()
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