An executive for Summerlin-based Stations Casinos LLC reportedly told the Gaming Control Board on Wednesday that the company has begun or is in the planning stage of renovating a buffet and cafe and adding 280 new slot machines at its Palms Casino Resort located on Flamingo Rd in Las Vegas, according to the Las Vegas Review-Journal.
Marc Falcone, who is currently Executive Vice President and Chief Financial Officer for both Station Casinos LLC and Fertitta Entertainment LLC, reportedly told state gaming regulators that the additional slot machines were among the first improvements made to the property when it and parent company, Las Vegas-based Red Rock Resorts, Inc. (RRR), entered into the $312.5 million agreement for the acquisition of the Palms in May. Station finalized the deal in October 2016 after receiving unanimous approval for the purchase from the Nevada Gaming Control Board the month prior.
According to the news agency, Falcone said that once renovations, which are currently under way, to the café are completed; upgrades to a buffet will be made.
Stations’ Palms property is situated on nearly 30 acres, and its three towers including Palms Place, Palms Fantasy Tower, and Palms Ivory Tower, offer a mix of approximately 703 hotel rooms, including 19 penthouses and 85 suites, a 95,000 square-foot casino, with some 1,250 slot machines, 48 table games, a race and sportsbook, 15 restaurants, and 60,000 square feet of convention and meeting space.
Falcone’s business with regulators included an amended order of registration that involved existing credit agreements. During his presentation regarding the matter, Falcone reportedly said that the company would save $18 million in interest payments each year as a result of the new credit agreements. The Board reportedly unanimously approved the matter.