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SAN MANUEL GAMING AND HOSPITALITY AUTHORITY TO ACQUIRE THE PALMS CASINO RESORT IN LAS VEGAS

Highland, Calif. (Might 4, 2021)The San Manuel Band of Mission Indians (“San Manuel” or the “Tribe”) and the San Manuel Gaming and Hospitality Authority (“SMGHA”) right now introduced a definitive settlement for a subsidiary of SMGHA to accumulate the Palms On line casino Resort (the “Palms”) in Las Vegas, Nevada from Pink Rock Resorts, Inc.

The transaction is anticipated to shut later in 2021, topic to the receipt of regulatory approvals and different customary closing situations.  

After 35 years of working San Manuel On line casino in Highland, CA, this announcement displays a milestone for San Manuel. 

“At present represents an essential step for the Tribe and its long-term financial diversification technique,” mentioned San Manuel Chairman Ken Ramirez. “On behalf of the Tribe, we’re grateful for the chance to hitch a neighborhood that we now have come to know and respect.”

For years, the Tribe has demonstrated an curiosity in and supported the Las Vegas neighborhood via contributions to non-profits and Las Vegas establishments together with UNLV’s William F. Harrah Faculty of Hospitality and William S. Boyd College of Legislation, the Public Training Basis and Shade Tree Shelter, plus partnerships with the Las Vegas Raiders and Allegiant Stadium, and the Vegas Golden Knights.

“The Palms is a well-designed property which has been fantastically redeveloped and maintained by Pink Rock Resorts. Our Board believes that the Palms is a on line casino resort that lots of San Manuel On line casino’s loyal company would get pleasure from,” mentioned SMGHA Chairwoman Latisha Casas. “We’re excited to maneuver ahead with this transaction.”  

Jefferies LLC is appearing as San Manuel’s monetary advisor.  Latham & Watkins LLP and Greenberg Traurig, LLP are appearing because the Tribe’s authorized counsel.

The Palms, which has been closed for over a yr, is positioned simply west of I-15 close to the Las Vegas Strip, and features a on line casino, roughly 700 resort rooms and suites, a number of informal and upscale eating choices, assembly and conference area, a 2,500-seat theater, pool and spa, different facilities and Palms Place condominiums.

San Manuel is a top-10 non-public employer in San Bernardino County in Southern California with greater than 4,900 workforce members. The Tribe at the moment has a significant growth venture underway at San Manuel On line casino that includes 432 visitor rooms, expanded high-limit gaming, new eating facilities and a particular occasions area. This growth will add greater than 2,000 new jobs by the tip of 2021.   

Concerning the San Manuel Band of Mission Indians

The San Manuel Band of Serrano Mission Indians is a federally acknowledged American Indian tribe positioned close to town of Highland, Calif. The Serrano Indians are the indigenous individuals of the San Bernardino highlands, passes, valleys and mountains who share a standard language and tradition. The San Manuel reservation was established in 1891 and acknowledged as a sovereign nation with the correct of self-government. As an indigenous neighborhood the origins and historical past of the San Manuel Band of Mission Indians stem from our relationship with the land and to all who share it. Since historical occasions we now have expressed ourselves via a tradition of giving. At present, San Manuel is ready to reply the decision of Yawa’ (Serrano phrase which means “to behave on one’s beliefs”) via partnerships with charitable organizations. We have now drawn upon our historical past, data, experience and cultural values to direct our philanthropic giving in our native area, in addition to to Native American causes nationwide. For extra data, go to http://www.sanmanuel-nsn.gov.

 

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