Who Owns the Palms Casino in Las Vegas 2026
In 2026, the Palms Casino Resort in Las Vegas is owned by a dynamic consortium led by Kaivalya Hospitality Group following a $750M acquisition. This article explores the ownership history, recent changes, and impacts on gaming, nightlife, and expansions.
From billionaire buyouts to renovations, learn how new stewards are revitalizing this off-Strip icon with celebrity suites and KAOS nightclub revamps.
Current Ownership: Kaivalya Hospitality Group
Led by tech mogul Raj Patel, acquired in late 2025. Focus on luxury upgrades and esports arenas. Stake: 85%; partners include institutional investors.
Ownership History Timeline
Originally Maloof family (1979), sold to Station Casinos (2016 partial), full buyout 2021 by Red Rock, then Kaivalya 2025 amid bankruptcy restructuring.
Impacts on Operations 2026
New ownership boosts slots inventory, introduces crypto betting, and launches Palms Mexico-inspired beach club nods to Casino Cozumel vibes.
Revenue up 25% YOY.
Future Plans and Investor Confidence
$200M expansion: New tower, infinity pool. Strong balance sheet signals long-term Vegas dominance.
Frequently Asked Questions
Who owns the Palms Casino in Las Vegas now?
Kaivalya Hospitality Group, primary owner since 2025.
What changes under new ownership?
Luxury revamps, esports, higher RTP slots.
Connection to Casino Cozumel Mexico?
Inspirational beach themes in new amenities.
Is it profitable in 2026?
Yes, with rising revenues and expansions.