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November 12, 2009

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Flamingo Road property named

Friday, Oct. 6, 2000 | 11:14 a.m.

The $260 million hotel-casino being built by the Maloof family on Flamingo Road will be called "The Palms," Fiesta President George Maloof announced Thursday.

The Santa Barbara-themed resort is slated to open in December 2001. It will open with 470 rooms and a 90,000-square-foot casino, though Maloof has said the project will eventually be expanded to include a 40-story hotel tower and 2,000 rooms.

Minority partners include Station Casinos Inc. and the Greenspun Corp., which each own 6 percent of the resort. The Greenspun family owns the Las Vegas Sun.

Perini Building Co. is the contractor.

Preliminary work on the project has already begun, though an official groundbreaking ceremony will be held at the site on Oct. 24 at noon. The resort will be located across from the Rio.

Station has agreed to buy the Fiesta, the Maloof's hotel-casino in North Las Vegas, for $185 million. That deal is still pending.

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