Friday, Sept. 14, 2012 | 5 p.m.
Now, the casino, hotel, nightclubs and its most well-known restaurants are finally under one owner.
F.P. Holdings, majority owners of the Palms, announced Friday it has purchased restaurant and entertainment group N.M. Ventures and N.M. Ventures II. That gives the Palms sole ownership of the Ghostbar, Rain and Moon nightclubs, the Palms Pool & Bungalows, the Nove Italiano and N9NE Steakhouse restaurants and the Stuff Store gift shop.
George Maloof, who opened the high-rise towers overlooking the Strip on west Flamingo Road, said he'll continue serving on the Palm's board of directors. No management changes are expected.
There also are no management changes expected at the Nine Group, which runs the clubs, restaurants and pool.
Employees were notified of the change late this afternoon. Owners hope the new structure will provide consistency of operations across the resort.
F.P. Holdings consists primarily of equity firms TPG Capital -- a Texas stake holder in Caesars Entertainment and Aliante Station -- and Leonard Green & Partners of Los Angeles. Last year, the company helped restructure $400 million in debt, which had threatened future of the casino.
This spring, the Palms freshened up its pool and is planning enhancements of its nightclubs during the next year.
Maloof and his family maintain minority interests in the Palms' holding company.
Palms Casino Resort has come a long way since its "Real World" debut in 2002. The boutique property features three distinct towers and a diverse mix of bars and restaurants across a 95,000-square-foot casino.
Palms, which features more than 1,200 rooms and fantasy suites, is currently undergoing a multi-million dollar transformation that will encompass an Ivory Tower room and suite redesign, new culinary additions, re-imagined gaming spaces and new, distinctive nightlife experiences.
In addition to newly designed rooms, during the first phase of the renovation, Palms will welcome Heraea, a high-energy American restaurant and lounge, and XISHI, a pan-Asian restaurant and lounge.
Fantasy Suites include the Hardwood Suite, the only hotel room in the world with its own basketball court.
Other amenities include the all-new Cantor Gaming® race and sports book, one of the few sports books in Las Vegas to include a poker room; SOCIAL; Scarlet; Chocolat Bistro; tonic bar; ghostbar; Pearl Concert Theater; Moon Nightclub; N9NE Steakhouse; Nove Italiano; Simon Restaurant & Lounge; Palms Pool & Bungalows; Kim Vō Salon; Drift Spa & Hammam; Brenden Theatres, a 14-theatre cineplex and more than 60,000 square-feet of meeting space.
John Katsilometes contributed to this story.