The Palms casino resort in Las Vegas will be acquired by the San Manuel Band of Mission Indians.
The deal is dependent upon the tribe’s bid receiving the necessary regulatory approvals, after which it will be concluded later this year.
A subsidiary of the San Manuel Gaming and Hospitality Authority will take over the well-known venue. The Indian tribe has been operating the San Manuel Casino in Highland, California, for the past 35 years.
Latisha Casas, chairwoman of the tribe, said: “The Palms is a well-designed property which has been beautifully redeveloped and maintained by Red Rock Resorts.”
The Palms has been closed for the past year and is located close to The Strip. It has a casino and 700 rooms, banqueting and convention space and a 2,500-seat auditorium.