Wednesday, Jan. 4, 2012 | 9:45 p.m.
For the first 10 years of the Palms’ existence, its face has been its founder, George Maloof. Through partnerships with such famed companies as Playboy and MTV, Maloof built the brand into a nationally recognizable resort destination and engendered a deserved reputation as one of the more dedicated, accessible and engaging figures in the Las Vegas resort industry.
But Maloof is no longer the sole point man at the resort. Eight days after the public learned that the Maloof family had sold its majority ownership of the hotel to two lenders, it was announced that Joe Magliarditi would take over as its president.
The resulting operations structure at the Palms became somewhat convoluted, at least to outside observers, with Maloof, as chairman of the board, still involved in decision-making. Still, nothing happens at today’s Palms unless Magliarditi approves. The news release announcing his hiring stated that he will direct all operations at the 1,300-room hotel-casino.
Those who have worked with Magliarditi, who retired from the Hard Rock Hotel in March, know him to work with a tight-knit group of advisors and to operate as a headstrong executive. The guest rooms at the decade-old Palms are due for an overhaul. Its nightlife venues, especially Rain, could use a boost. There has been talk inside the hotel that the Pearl Concert Theater will host a wider variety of performances. And at the center of all this activity is Magliarditi, who might not be the first to walk the red carpet but without whose approval nothing can happen at the Palms.