![]() ![]() The property was backed by a $400 million revolving credit agreement that was due in October and wasn’t refinanced. The deal was not listed among the items to be considered Thursday by the Nevada Gaming Commission during its meeting in Las Vegas. TPG Capital and Leonard Green & Partners each will own 49 percent. “We have an equity stake in the Palms,” Maloof told the Las Vegas Review-Journal on June 14.Īccording to the documents filed with the Nevada Gaming Control Board, the Maloofs will own 2 percent of the casino once the deal is approved by regulators. ![]() The release of the documents Monday comes a week after George Maloof, who runs and opened the resort in 2001, confirmed Leonard Green & Partners LP and TPG Capital would assume majority control in the casino and hotel.Īt the time, Maloof declined to comment on whether the deal meant the buyout firms would assume a controlling stake in the Palms. Not yet, but according to regulatory documents filed with Nevada gaming officials, the Maloof family’s ownership stake in the Las Vegas celebrity hangout has declined to about 2 percent. Is the Maloof family’s ownership of the Palms coming to an end? ![]()
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