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05.05.2021 / 17:35

California tribe to buy Palms Casino Resort in Las Vegas for $650M

(Getty Images)LAS VEGAS - A California tribe announced Tuesday that it is buying the Palms Casino Resort off the Las Vegas Strip.The San Manuel Band of Mission Indians is expected to acquire the 700-room Palms for $650 million from Red Rock Resorts later this year, the Las Vegas Review-Journal reported. It will be the second tribal enterprise to enter the Las Vegas market this year; Mohegan Gaming and Entertainment opened a casino at Virgin Hotels Las Vegas in March."Today represents an important step for the tribe and its long-term economic diversification strategy," San Manuel Chairman Ken Ramirez said in a news release.

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