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Reply With QuoteDidnt know they sold most of their shares. I thought the Palms was suppose to be one of the best hotels/casinos in Vegas, so was they not doing well financially or something?
The Maloofs, one of the most visible / high profile owner(s), have sold off so much of their share to TPG Capital and Leonard Green & Partners that their equity stake is down to 2%.
The Maloofs come from a very very wealthy family so they're still fine. However it's a bit of a stunning fall from Vegas grace with this sale.
TPG Capital owns Caesar's, safe to say they're one of the biggest players on the Vegas strip.
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Didnt know they sold most of their shares. I thought the Palms was suppose to be one of the best hotels/casinos in Vegas, so was they not doing well financially or something?
The Palms is one of the best known, not sure it's ever been considered one of the best managed.Originally Posted by ravensfan929
I may be wrong, but the Maloofs appear to have sold a good portion of their stake so they can help finance their basketball team which has floundered horribly.
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Well they got some hope now that they got Jimmer lol. He should bring in some fans and if he starts and works on his defense he could be a pretty good player in the league.
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