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George Maloof: Chairman of the Board of the Palms

Good thing Matt Goss isn’t at Palms any longer or George Maloof may not be able to tell people that he’s the Chairman of the board a la Frank Sinatra.  George Maloof sheds (spins?) a little more information about TGP Partners owning 98% of the Palms in a Vegas Inc. interview today.

What about all of the speculation that Caesars Entertainment is taking control of the Palms?

When TPG got involved (with Caesars Entertainment) a couple of years ago, speculation was now that they own part of Caesars Entertainment, Caesars would own part of the Palms. But that’s not true. It’s not at all true. It’s never been true…..

….Do you still have full authority to run the Palms?

I’m in a management agreement, you could say, as chairman of the board of the Palms. I still have that authority.

I’m a skeptic by nature and while the Maloof’s have run Palms since they built it I still find it hard to believe that TGP won’t have Caesars take some part of management of the property at some point.

It would be really interesting to see the Maloof face working with the Caesars brand.  It doesn’t mix today, but it may make both stronger in the long run. Maybe he chose the words “Chairman of the board” as some kind of a subliminal message (I know that’s a stretch).

Frank Sinatra "Nothing But The Best"

Frank Sinatra "Nothing But The Best"

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