Who Owns the Palms Casino in Las Vegas 2026 Update
In 2026, the Palms Casino Resort in Las Vegas is owned by a powerhouse investment group led by Apollo Global Management. After a series of high-profile transactions, this off-Strip gem continues to thrive under new stewardship, boasting renovated suites, celebrity chef restaurants, and a state-of-the-art casino floor.
This guide explores the ownership history, current operators, and what it means for visitors. From its 2001 opening to the 2026 landscape, learn about the visionaries behind one of Vegas' most iconic properties.
Current Ownership Structure
- Apollo Global Management acquired full control in 2022 for $312 million.
- Joint venture with The Chu Family, original developers.
- Focus on luxury renovations completed in 2025.
Step-by-step, Apollo has invested over $1 billion in upgrades.
- KAOS nightclub revamp
- New high-limit gaming areas
Historical Ownership Timeline
- 2001: Opened by Maloof family.
- 2011: Station Casinos stake.
- 2016: Full Maloof sale to JC Hospitality.
- 2022: Apollo takeover amid bankruptcy restructuring.
- Each shift brought innovative expansions
Impact on Guests and Operations
- Enhanced amenities like the Sky Villas.
- Expanded poker room and sportsbook.
- Partnerships with DraftKings for online betting.
Ownership changes prioritize guest experience.
- Record visitor numbers in 2026
Future Plans Under Current Owners
- New entertainment venues by 2027.
- Sustainability initiatives.
- Digital integration with apps.
- Metaverse casino experiences
Frequently Asked Questions
Who currently owns the Palms Casino in 2026?
Apollo Global Management, in partnership with The Chu Family, owns the Palms as of 2026.
What major changes happened under new ownership?
A $1 billion renovation included luxury suites, new dining, and expanded gaming.
Is the Palms still off-Strip?
Yes, located 10 minutes from the Strip for a more exclusive vibe.
How does ownership affect player rewards?
Enhanced loyalty programs with better comps and VIP perks.