San Manuel to acquire Palms Casino Resort from Red Rock Resorts.

The San Manuel Band of Mission Indians, an Indian tribe, agreed to acquire Palms Casino Resort, a hotel and casino, from Red Rock Resorts, a gaming, development and management company. Financial terms were not disclosed. The transaction is expected to close later in 2021, subject to the receipt of regulatory approvals and other customary closing conditions. "Today represents an important step for the Tribe and its long-term economic diversification strategy. On behalf of the Tribe, we are thankful for the opportunity to join a community that we have come to know and appreciate," Ken Ramirez, San Manuel Chairman.