Maloof Palms Casino Ownership
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*Maloof Palms Casino
*Palms Casino OwnershipBornGeorge Joseph Maloof Jr.
2 September 1964 (age 56)
Alma materUniversity of Nevada, Las VegasOccupationEntrepreneur, businessmanParent(s)George J. Maloof Sr.RelativesAdrienne Maloof(sister)
George Joseph Maloof Jr. (born September 2, 1964) is an American entrepreneur and businessman. He is the former owner of the Sacramento Kings, the former owner of the now defunct Sacramento Monarchs, and minority owner of the Palms Casino Resort in Las Vegas with his brothers Gavin Maloof, Joe Maloof, Phil Maloof, and sister Adrienne Maloof. He is part of the Maloof Family.Life and career[edit]
George Maloof, head of the ownership team for a decade, was a friend and business associate of Hefner through Playboy’s partnership with Palms and N9NE Group from 2006-2012.
*The new owners of The Palms, billionaire brothers Frank and Lorenzo Fertitta of Station Casinos and parent Red Rock Resorts, are avid art collectors. The pair, who used to own Ultimate Fighting.
*No surprise here: Adrienne Maloof’s master bedroom looks like a fancy hotel suite! Given that her family owns the swanky Palms Casino Resort in Las Vegas, Adrienne knows a thing or two about.
Maloof is of Lebanese and Irish descent.[1] He was born and raised in Albuquerque, New Mexico where his father, George Sr., operated a Coors beer distributorship. He attended the University of Nevada, Las Vegas where he studied casino management. He graduated Class of 1987 and was a member of the Kappa-Alpha Chapter of the Kappa Sigma fraternity. While at UNLV, Maloof played cornerback for the Runnin’ Rebels football team. Death Row Records co-founder Suge Knight was his locker mate.[2]
Maloof is the leading force behind the building and operation of the Palms Casino Resort just off Flamingo Road in Las Vegas, Nevada. He has overseen the operation of hotels throughout the Southwest and California, including the Fiesta hotel-casino in North Las Vegas, the Central Palace Casino in Central City, Colorado, and the Palms.
Maloof opened his first casino in Central City, Colorado before returning to Las Vegas to open the Fiesta in 1994. He then built the 430-room Palms resort in 2001 with family money. The boutique hotel, which boasts more than $50 million in annual profits, boasts stripper poles in private rooms, the Real World Suite (home to MTV’s reality series) and an emphasis on hiring beautiful women. ’If you have the girls, you are going to get the guys,’ Maloof once said. The Palms has hosted the MTV Video Music Awards, NBA All-Star weekend and the Ocean’s 13 premiere.[2]
The Maloof family helped finance the horror film Feast.[3] The four brothers have also filmed a series of Carl’s Jr. commercials, which began airing on October 16, 2006.[4]Filmography[edit]YearTitleRoleNotes2009We Made YouHimselfMusic video by Eminem2007Sunset TanHimselfEpisode: ’When the Cats Away’2007Reunited: Real World Las VegasHimselfMultiple episodes2005FeastExecutive producer2005The Girls Next DoorHimself - owner/operator of The PalmsEpisode ’It’s Vegas Baby!’2003–2004Las VegasHimself2 episodes2003Project Greenlight 3HimselfTV Series (unknown episodes)2004The Palms Girl SearchHimselfAlso producer2003The E! True Hollywood StoryHimselfEpisode ’Real World’References[edit]Maloof Palms Casino
*^http://transcripts.cnn.com/TRANSCRIPTS/1009/18/lkl.01.html
*^ abTell Me More About George Maloof www.celebrityweel.com Retrieved 14 November 2006.
*^’Maloof’s take a chance on Horror Film’. Albuquerque Journal. September 26, 2006.
*^John Katsilometes on George Maloof and Christie Hefner reviving the Playboy Club name for Las VegasArchived September 30, 2007, at the Wayback Machine www.lasvegassun.com Retrieved 14 November 2006Further reading[edit]
*Biography of George Maloof Jr. at IMDB.comExternal links[edit]
*George J. Maloof Jr. on IMDb
*George Maloof on IMDb
*George Maloof Jr. at tv.com
*George Maloof Jr. at hollywood.comRetrieved from ’https://en.wikipedia.org/w/index.php?title=George_J._Maloof_Jr.&oldid=994239394’Elissa Harwood
This week, Inside Gaming gives you a rundown of what’s new in casino finance. Station Casinos is finally out of bankruptcy, and the Palms is avoiding it with some dramatic ownership changes. Ohio racetrack purchases are looking like golden gooses after the state approved the addition of video lottery terminals. Boyd Gaming is trying to spin its Mississippi casino purchase as being similarly brilliant, but analysts aren’t quite convinced.
Station Casinos Emerges from Drama-Filled Bankruptcy
Station Casinos announced last week that two years after filing for Chapter 11 reorganization, the company is out of bankruptcy. Judge Gregg Zive and Nevada state casino regulators finished approving the reorganization plan after months of hearings, protests, and complaints. Station’s founding family, the Fertittas (yes, the ones who own the UFC), managed to retain control of all but one of the company’s properties. CEO Frank Fertitta III and his brother Lorenzo invested close to $200 million of private capital in the reorganization plan and maintain a 45 percent stake in the company.
Creditors took over Aliante Station in North Las Vegas in exchange for writing off $378 million of Station’s debt. In total, the reorganization deal is believed to have reduced Station’s $6.86 billion debt by more than $4 billion while leaving the company in possession of 17 local-facing properties, four tribal development or management agreements, and several other land holdings.
’We are pleased to have completed the restructuring process and we look forward to this exciting new chapter in the Station Casinos story,’ Frank Fertitta III said in a statement. ’Lorenzo and I believe in the future of Las Vegas, which is why we remain committed to the company and the community.’
Get more details from VegasInc.
Palms Restructures Debt, Leaving Maloofs with Little Equity and Caesars’ Parent with Nearly Half
The Palms Hotel and Casino offloaded much of its debt last week to TPG Capital, which owns Caesars Entertainment Corp., and to Leonard Green & Partners LP. The Maloof family originally declined to comment on how much control they would maintain in the Las Vegas casino, simply telling the Las Vegas Review-Journal they ’have an equity stake in the Palms.’ But since the state gaming commission has to approve the details of any deal resulting in new ownership of a casino, the Maloofs were only buying themselves a few days of cover.
It took less than a week for the company’s regulatory filings with Nevada gaming to reveal that the Maloof family is down to just 2 percent ownership of the ailing property. Leonard Green & Partners and TPG Capital will each assume 49 percent of the Palms, a resort advertised as a celebrity hangout and frequently featured on E! and MTV television shows. The Maloofs also own the NBA’s Sacramento Kings, a less-than-robust franchise that has looked to relocate to Las Vegas or Anaheim, Calif. The Maloofs said their reduced ownership in the Palms improves their financial situation, possibly enabling them to contribute more than expected to an under-negotiation new arena for the Kings.
By depositing and using your Genesis Casino Bonus code, 200GC, you’ll a 200% up to $100 Bonus instantly. 30 Free Spins will be instantly credited upon qualifying deposit. Remainder will be credited at the rate of 30 per day for 9 days on the star-gazing slot game, Starburst from NetEnt.
Learn more about the reorganization at LVRJ.com.
Multi line slots free play. Casino Operators/Slot Manufacturers to Benefit from Ohio Racetrack Expansions
Recent risky investments in Ohio racetracks look like brilliant moves for several casino companies after Ohio Gov. John Kasich announced last week that the state’s seven tracks can add casinos with video lottery terminals. The new deal will allow track operators to buy a 10-year casino operating license for $50 million, provided they invest a minimum of $150 million per location and pay 33.5 percent tax on video lottery revenues.
Las Vegas-based Pinnacle Entertainment spent $45 million on River Downs Racetrack in Cincinnati last year in the hopes that they’d soon be able to add a casino. The new gaming venue adds another dimension to Pinnacle’s recent expansion into new markets, including Louisiana and Vietnam, a strategy about which investment analysts are optimistic.
Penn National Gaming owns two Ohio tracks; Caesars Entertainment Corp. and MTR Gaming each operate one. Penn National and Caesars are also each building two full-scale casinos in Ohio. The video lottery terminal ruling is also good news for slot-machine manufacturers who will have an estimated 10,500 to 17,500 new orders to fill.
To hear more analyst perspectives, check out the Casino City Times.
Boyd Gaming Purchases Mississippi IP
Boyd Gaming Corp. continued its campaign to reorganize its portfolio and impress investors by acquiring the IP Casino Resort Spa in Biloxi, Miss. for $332 million. Boyd is paying $278 million to the casino’s current owners, Imperial Palace of Mississippi LLC and Key Largo Holdings LLC, donating $10 million to the affiliated Engelstad Family Family Foundation charity and setting aside $44 million for renovations. The Engelstad Family Foundation sold the Las Vegas Imperial Palace to Caesars Entertainment (then Harrah’s) in 2005. Boyd is expected to borrow around $200 of the $332 million.
In return for its investment, Boyd gets 1,100 recently remodeled hotel rooms, a 70,000-square-foot casino, 73,000 square feet of convention space, a spa, theater, 14 restaurants and lounges, and an additional 13 acres of vacant land on which to expand.
Some analysts applauded the move, some questioned the percentage of its cash Boyd was investing in ’a no-growth market,’ and others were more interested in how it impacted the company’s on-again-off-again interest in buying MGM International’s stake in the Borgata in Atlantic City.
Read Boyd’s spin on it in this press release, and get the analysts’ takes in the Las Vegas Review-Journal.
Be sure to follow us on Twitter for up-to-the-minute news. Ways to win at casino slot machines.
*Photo courtesy of Casino-Magazine.roPalms Casino Ownership
*TagsLas VegasStation CasinosMGM
Register here: http://gg.gg/ur8ew
https://diarynote-jp.indered.space
*Maloof Palms Casino
*Palms Casino OwnershipBornGeorge Joseph Maloof Jr.
2 September 1964 (age 56)
Alma materUniversity of Nevada, Las VegasOccupationEntrepreneur, businessmanParent(s)George J. Maloof Sr.RelativesAdrienne Maloof(sister)
George Joseph Maloof Jr. (born September 2, 1964) is an American entrepreneur and businessman. He is the former owner of the Sacramento Kings, the former owner of the now defunct Sacramento Monarchs, and minority owner of the Palms Casino Resort in Las Vegas with his brothers Gavin Maloof, Joe Maloof, Phil Maloof, and sister Adrienne Maloof. He is part of the Maloof Family.Life and career[edit]
George Maloof, head of the ownership team for a decade, was a friend and business associate of Hefner through Playboy’s partnership with Palms and N9NE Group from 2006-2012.
*The new owners of The Palms, billionaire brothers Frank and Lorenzo Fertitta of Station Casinos and parent Red Rock Resorts, are avid art collectors. The pair, who used to own Ultimate Fighting.
*No surprise here: Adrienne Maloof’s master bedroom looks like a fancy hotel suite! Given that her family owns the swanky Palms Casino Resort in Las Vegas, Adrienne knows a thing or two about.
Maloof is of Lebanese and Irish descent.[1] He was born and raised in Albuquerque, New Mexico where his father, George Sr., operated a Coors beer distributorship. He attended the University of Nevada, Las Vegas where he studied casino management. He graduated Class of 1987 and was a member of the Kappa-Alpha Chapter of the Kappa Sigma fraternity. While at UNLV, Maloof played cornerback for the Runnin’ Rebels football team. Death Row Records co-founder Suge Knight was his locker mate.[2]
Maloof is the leading force behind the building and operation of the Palms Casino Resort just off Flamingo Road in Las Vegas, Nevada. He has overseen the operation of hotels throughout the Southwest and California, including the Fiesta hotel-casino in North Las Vegas, the Central Palace Casino in Central City, Colorado, and the Palms.
Maloof opened his first casino in Central City, Colorado before returning to Las Vegas to open the Fiesta in 1994. He then built the 430-room Palms resort in 2001 with family money. The boutique hotel, which boasts more than $50 million in annual profits, boasts stripper poles in private rooms, the Real World Suite (home to MTV’s reality series) and an emphasis on hiring beautiful women. ’If you have the girls, you are going to get the guys,’ Maloof once said. The Palms has hosted the MTV Video Music Awards, NBA All-Star weekend and the Ocean’s 13 premiere.[2]
The Maloof family helped finance the horror film Feast.[3] The four brothers have also filmed a series of Carl’s Jr. commercials, which began airing on October 16, 2006.[4]Filmography[edit]YearTitleRoleNotes2009We Made YouHimselfMusic video by Eminem2007Sunset TanHimselfEpisode: ’When the Cats Away’2007Reunited: Real World Las VegasHimselfMultiple episodes2005FeastExecutive producer2005The Girls Next DoorHimself - owner/operator of The PalmsEpisode ’It’s Vegas Baby!’2003–2004Las VegasHimself2 episodes2003Project Greenlight 3HimselfTV Series (unknown episodes)2004The Palms Girl SearchHimselfAlso producer2003The E! True Hollywood StoryHimselfEpisode ’Real World’References[edit]Maloof Palms Casino
*^http://transcripts.cnn.com/TRANSCRIPTS/1009/18/lkl.01.html
*^ abTell Me More About George Maloof www.celebrityweel.com Retrieved 14 November 2006.
*^’Maloof’s take a chance on Horror Film’. Albuquerque Journal. September 26, 2006.
*^John Katsilometes on George Maloof and Christie Hefner reviving the Playboy Club name for Las VegasArchived September 30, 2007, at the Wayback Machine www.lasvegassun.com Retrieved 14 November 2006Further reading[edit]
*Biography of George Maloof Jr. at IMDB.comExternal links[edit]
*George J. Maloof Jr. on IMDb
*George Maloof on IMDb
*George Maloof Jr. at tv.com
*George Maloof Jr. at hollywood.comRetrieved from ’https://en.wikipedia.org/w/index.php?title=George_J._Maloof_Jr.&oldid=994239394’Elissa Harwood
This week, Inside Gaming gives you a rundown of what’s new in casino finance. Station Casinos is finally out of bankruptcy, and the Palms is avoiding it with some dramatic ownership changes. Ohio racetrack purchases are looking like golden gooses after the state approved the addition of video lottery terminals. Boyd Gaming is trying to spin its Mississippi casino purchase as being similarly brilliant, but analysts aren’t quite convinced.
Station Casinos Emerges from Drama-Filled Bankruptcy
Station Casinos announced last week that two years after filing for Chapter 11 reorganization, the company is out of bankruptcy. Judge Gregg Zive and Nevada state casino regulators finished approving the reorganization plan after months of hearings, protests, and complaints. Station’s founding family, the Fertittas (yes, the ones who own the UFC), managed to retain control of all but one of the company’s properties. CEO Frank Fertitta III and his brother Lorenzo invested close to $200 million of private capital in the reorganization plan and maintain a 45 percent stake in the company.
Creditors took over Aliante Station in North Las Vegas in exchange for writing off $378 million of Station’s debt. In total, the reorganization deal is believed to have reduced Station’s $6.86 billion debt by more than $4 billion while leaving the company in possession of 17 local-facing properties, four tribal development or management agreements, and several other land holdings.
’We are pleased to have completed the restructuring process and we look forward to this exciting new chapter in the Station Casinos story,’ Frank Fertitta III said in a statement. ’Lorenzo and I believe in the future of Las Vegas, which is why we remain committed to the company and the community.’
Get more details from VegasInc.
Palms Restructures Debt, Leaving Maloofs with Little Equity and Caesars’ Parent with Nearly Half
The Palms Hotel and Casino offloaded much of its debt last week to TPG Capital, which owns Caesars Entertainment Corp., and to Leonard Green & Partners LP. The Maloof family originally declined to comment on how much control they would maintain in the Las Vegas casino, simply telling the Las Vegas Review-Journal they ’have an equity stake in the Palms.’ But since the state gaming commission has to approve the details of any deal resulting in new ownership of a casino, the Maloofs were only buying themselves a few days of cover.
It took less than a week for the company’s regulatory filings with Nevada gaming to reveal that the Maloof family is down to just 2 percent ownership of the ailing property. Leonard Green & Partners and TPG Capital will each assume 49 percent of the Palms, a resort advertised as a celebrity hangout and frequently featured on E! and MTV television shows. The Maloofs also own the NBA’s Sacramento Kings, a less-than-robust franchise that has looked to relocate to Las Vegas or Anaheim, Calif. The Maloofs said their reduced ownership in the Palms improves their financial situation, possibly enabling them to contribute more than expected to an under-negotiation new arena for the Kings.
By depositing and using your Genesis Casino Bonus code, 200GC, you’ll a 200% up to $100 Bonus instantly. 30 Free Spins will be instantly credited upon qualifying deposit. Remainder will be credited at the rate of 30 per day for 9 days on the star-gazing slot game, Starburst from NetEnt.
Learn more about the reorganization at LVRJ.com.
Multi line slots free play. Casino Operators/Slot Manufacturers to Benefit from Ohio Racetrack Expansions
Recent risky investments in Ohio racetracks look like brilliant moves for several casino companies after Ohio Gov. John Kasich announced last week that the state’s seven tracks can add casinos with video lottery terminals. The new deal will allow track operators to buy a 10-year casino operating license for $50 million, provided they invest a minimum of $150 million per location and pay 33.5 percent tax on video lottery revenues.
Las Vegas-based Pinnacle Entertainment spent $45 million on River Downs Racetrack in Cincinnati last year in the hopes that they’d soon be able to add a casino. The new gaming venue adds another dimension to Pinnacle’s recent expansion into new markets, including Louisiana and Vietnam, a strategy about which investment analysts are optimistic.
Penn National Gaming owns two Ohio tracks; Caesars Entertainment Corp. and MTR Gaming each operate one. Penn National and Caesars are also each building two full-scale casinos in Ohio. The video lottery terminal ruling is also good news for slot-machine manufacturers who will have an estimated 10,500 to 17,500 new orders to fill.
To hear more analyst perspectives, check out the Casino City Times.
Boyd Gaming Purchases Mississippi IP
Boyd Gaming Corp. continued its campaign to reorganize its portfolio and impress investors by acquiring the IP Casino Resort Spa in Biloxi, Miss. for $332 million. Boyd is paying $278 million to the casino’s current owners, Imperial Palace of Mississippi LLC and Key Largo Holdings LLC, donating $10 million to the affiliated Engelstad Family Family Foundation charity and setting aside $44 million for renovations. The Engelstad Family Foundation sold the Las Vegas Imperial Palace to Caesars Entertainment (then Harrah’s) in 2005. Boyd is expected to borrow around $200 of the $332 million.
In return for its investment, Boyd gets 1,100 recently remodeled hotel rooms, a 70,000-square-foot casino, 73,000 square feet of convention space, a spa, theater, 14 restaurants and lounges, and an additional 13 acres of vacant land on which to expand.
Some analysts applauded the move, some questioned the percentage of its cash Boyd was investing in ’a no-growth market,’ and others were more interested in how it impacted the company’s on-again-off-again interest in buying MGM International’s stake in the Borgata in Atlantic City.
Read Boyd’s spin on it in this press release, and get the analysts’ takes in the Las Vegas Review-Journal.
Be sure to follow us on Twitter for up-to-the-minute news. Ways to win at casino slot machines.
*Photo courtesy of Casino-Magazine.roPalms Casino Ownership
*TagsLas VegasStation CasinosMGM
Register here: http://gg.gg/ur8ew
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