Palms Casino is brazenly eager to start down the path of reinventing the Palms Casino Resort in Las Vegas; as they begin to embark on the process of their $620 million renovation plans they have officially sent out a new branding campaign for the hotel. Just yesterday, the Palms Casino Resort informed the world of their new‘From Dust to Gold’ marketing initiative, the purpose of which is to show the modern version of Las Vegas by eradicating any remnants of a bygone era of Las Vegas. It seems that they have taken the phrase in order to make an omelette; you must break a few eggs, quite literally.
A Look Into the Palms Casino Resort
The Palms Casino Resort was purchased in 2016 by the Nevada gaming operator Stations Casinos for a total of $312 million. The Palms Casino has continued to be a steadfast revenue pillar for Stations Casinos holding company Red Rock Resorts over the past year. However, it has become clear that the Palms Casino is starting to show clear signs of its age and therefore, something had to be done. Hence, Stations Casinos decided to embark on the greatest renovation project of any casino within the Las Vegas strip to date, and what a renovation it will be.
The Renovations Explained
The renovation will be done in stages and will include the launching of a new bar, restaurant, nightclub, and steakhouse. In addition, the Pearl entertainment venue has been redrawn, as has the Palm Casino’s gaming floor. To add to all of that, a brand new VIP gambling room will be launched. Moreover, we can expect a new pool-club of 73 000 square feet to be unveiled in the spring, as well as a new nightclub that will be 29 000 square feet, oh the partying that will go on in there.
Phase one is expected to be finalized by the fall of 2018, this will include the unveiling of 60 new hotel rooms, while phase two should be completed by the second quarter of 2019. Phase three is only expected to be complete in the final quarter of 2019.
As you might be expecting, a construction project of this magnitude has obviously had an effect on the bottom line of the company. Due to the Palms Casinos not being fully operational the Red Rock Resorts financials were slightly less rosy than usual for the first quarter of the year. However, with the unveiling of the new features, things are sure to look a whole lot better in the coming months.