Maloof family now owns just 2 percent of Palms CasinoPosted by Inside Hoops
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 the Sacramento Bee