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The transaction is expected to close in 2021, but is subject to regulatory approvals and other closing conditions, according to a news release from San Manuel.
The tribe, which already owns and operates San Manuel Casino in Highland, and the San Manuel Gaming and Hospitality Authority, a newly created entity that will run the Las Vegas resort, will acquire the casino property for $650 million, according to a news release from current Palms owner Red Rock Resorts. The San Manuel Band of Mission Indians has announced plans to purchase the Palms Casino Resort in Las Vegas, making it the first tribe to own and operate a casino in the city’s resort corridor.
