Maloof family now owns just 2 percent of Palms Casino

Nevada regulators Thursday approved the transfer of the Maloof family’s Palms Casino to its creditors.

The Maloofs, who own the Sacramento Kings, have just 2 percent of the Palms under the deal approved by the Nevada Gaming Commission.

The new majority owners are two investment firms that held the resort’s debt, Leonard Green & Partners and TPG Capital.

George Maloof will continue to run the Las Vegas property, which opened 10 years ago this week.

— Reported by Dan Kasler of theĀ Sacramento Bee

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