San Manuel Casino, located in Highland, California, was not sold. The San Manuel Band of Mission Indians has owned and operated this casino for many years.
The Tribe's Acquisition of The Palms Casino Resort
While San Manuel Casino remains under the ownership of the San Manuel Band of Mission Indians, the tribe significantly expanded its enterprise by acquiring the Palms Casino Resort in Las Vegas. This major acquisition was executed by the San Manuel Gaming and Hospitality Authority, a newly established entity created by the tribe.
The purchase price for the Palms Casino Resort was $650 million. This transaction was confirmed by a news release from Red Rock Resorts, the previous owner of the Palms. The acquisition marked a pivotal moment for the San Manuel Band of Mission Indians, making them the first Native American tribe to own and operate a casino resort in the competitive Las Vegas market.
Key Details of The Palms Acquisition:
- Acquired Property: Palms Casino Resort
- Acquisition Price: $650 million
- Acquiring Entity: San Manuel Gaming and Hospitality Authority (an entity of the San Manuel Band of Mission Indians)
- Seller: Red Rock Resorts
- Significance: Marked the entry of the San Manuel Band of Mission Indians into the Las Vegas gaming market.
This strategic move allows the San Manuel tribe to diversify their gaming and hospitality portfolio beyond their established presence in Highland, California.
