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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”) currently introduced a definitive settlement for a subsidiary of SMGHA to acquire the Palms Casino Resort (the “Palms”) in Las Vegas, Nevada from Red Rock Resorts, Inc.
The transaction is anticipated to close later in 2021, subject matter to the receipt of regulatory approvals and other customary closing disorders.
Just after 35 a long time of functioning San Manuel Casino in Highland, CA, this announcement reflects a milestone for San Manuel.
“Currently signifies an important step for the Tribe and its long-expression economic diversification system,” said San Manuel Chairman Ken Ramirez. “On behalf of the Tribe, we are thankful for the chance to be part of a group that we have occur to know and respect.”
For many years, the Tribe has demonstrated an interest in and supported the Las Vegas community as a result of contributions to non-income and Las Vegas institutions which includes UNLV’s William F. Harrah Faculty of Hospitality and William S. Boyd College of Regulation, the Public Education Foundation and Shade Tree Shelter, additionally partnerships with the Las Vegas Raiders and Allegiant Stadium, and the Vegas Golden Knights.
“The Palms is a effectively-designed residence which has been superbly redeveloped and taken care of by Purple Rock Resorts. Our Board thinks that the Palms is a casino resort that lots of of San Manuel Casino’s faithful company would get pleasure from,” mentioned SMGHA Chairwoman Latisha Casas. “We are fired up to go ahead with this transaction.”
Jefferies LLC is performing as San Manuel’s fiscal advisor. Latham & Watkins LLP and Greenberg Traurig, LLP are performing as the Tribe’s lawful counsel.
The Palms, which has been shut for more than a yr, is situated just west of I-15 near the Las Vegas Strip, and incorporates a on line casino, roughly 700 hotel rooms and suites, multiple everyday and upscale dining choices, assembly and conference house, a 2,500-seat theater, pool and spa, other facilities and Palms Position condominiums.
San Manuel is a best-10 non-public employer in San Bernardino County in Southern California with more than 4,900 team members. The Tribe at the moment has a important enlargement project underway at San Manuel On line casino showcasing 432 visitor rooms, expanded large-limit gaming, new dining facilities and a exclusive gatherings house. This enlargement will increase additional than 2,000 new work by the conclude of 2021.
About the San Manuel Band of Mission Indians
The San Manuel Band of Serrano Mission Indians is a federally recognized American Indian tribe positioned in the vicinity of the metropolis of Highland, Calif. The Serrano Indians are the indigenous folks of the San Bernardino highlands, passes, valleys and mountains who share a widespread language and lifestyle. The San Manuel reservation was established in 1891 and regarded as a sovereign country with the right of self-governing administration. As an indigenous community the origins and historical past of the San Manuel Band of Mission Indians stem from our romantic relationship with the land and to all who share it. Due to the fact ancient periods we have expressed ourselves through a tradition of supplying. Today, San Manuel is capable to answer the contact of Yawa’ (Serrano term indicating “to act on one’s beliefs”) by means of partnerships with charitable companies. We have drawn on our history, knowledge, abilities and cultural values to immediate our philanthropic providing in our local location, as properly as to Indigenous American brings about nationwide. For additional info, visit http://www.sanmanuel-nsn.gov.