LAS VEGAS (KTNV) — Station Casinos brought the Palms hotel-casino from the Maloof family in 2016 for $312.5 million.
They spent $690 million in renovations and held a grand reopening in April 2019. However, just 7 months later, it’s mega-million day club and nightclub KAOS closed.
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The Palms hotel-casino closed during the statewide shutdown last March. Unlike most other properties, it did not reopen. Station Casinos told investors in February that the Palms would reopen when its tourist base returned.
The Palms opened its doors for the first time on Nov. 15, 2001. Celebrities like Dennis Rodman, Pamela Anderson, April Hilton and Samuel L. Jackson attended. The hotel-casino was owned by the Maloof family at that time. The first phase of the hotel-casino cost an estimated $275 million. The Maloof family sold Fiesta Rancho to Station Casinos to help pay for the Palms.
The CineVegas film festival that originated at Bally's Las Vegas in 1999 moved to the Palms after it opened and was held annually at the resort until 2009.
In 2002, MTV brought “The Real World” to the hotel-casino, making the property famous around the world. The cast reunited for a 7 episode mini-series 5 years later at the Palms in 2007.
The Fantasy Tower, which cost $600 million, opened in 2005. It included a two-story suite with a basketball court and locker room. It also had several fantasy suites, including the Barbie suite and King Pin suite, which featured a bowling lane.
Almost immediately after the Fantasy Tower was completed the resort announced a new 520-foot condominium tower to be built next door. It was named Palms Place and contained 599 units. It also had its own pool and valet. The condo tower opened in February 2008.
In 2009, Katy Perry filmed a video for her song “Waking Up in Vegas” at the Palms. Also in 2009, Mariah Carey performed at The Pearl theater.
The MTV Music Awards were hosted by the Palms in 2008 and MTV Spring Break with Snoop Dogg, Pitbull, Wiz Khalifa and others was filmed there in March 2011.
The Palms also hosted the NHL Awards for several years and a “Jersey Shore” spin-off, “The Pauly D Project,” was also filmed there.
The Palms began experiencing financial trouble in 2010 during the Great Recession and began missing loan payments.
In May 2016, Station Casinos agreed to purchase the Palms for $313 million.