Upon acquiring ownership, the San Manuel Band of Mission Indians invested in a $600+ million renovation, which has transformed the Palms into one of the most modern and luxurious hotels near Las Vegas Boulevard. The Californian San Manuel Tribe also owns the Yaamava Resort in southern California. This has made the Palms the first Las Vegas casino property to be under Native American tribe ownership. Most recently, ownership was transferred to the San Manuel Band of Mission Indians in a deal worth more than $650 million. It started with the Maloof family and Station Casinos, and after several changes in ownership and majority holdings, the Palms eventually came under the ownership of Red Rock Resorts, which is the parent company of Station Casinos. The Palms has changed ownership hands several times since it first opened in 2001.
