Latham & Watkins LLP and and Greenberg Traurig, LLP represented the Tribe in the transaction.
The San Manuel Band of Mission Indians (San Manuel or the Tribe) and the San Manuel Gaming and Hospitality Authority (SMGHA) announced a definitive agreement for a subsidiary of SMGHA to acquire the Palms Casino Resort in Las Vegas, Nevada from Red Rock Resorts, Inc. The transaction is expected to close later in 2021, subject to the receipt of regulatory approvals and other customary closing conditions.
Jefferies LLC acted as San Manuel’s financial advisor.
The Palms, which has been closed for over a year, is located just west of I-15 near the Las Vegas Strip, and includes a casino, approximately 700 hotel rooms and suites, multiple casual and upscale dining options, meeting and convention space, a 2,500-seat theater, pool and spa, other amenities and Palms Place condominiums.
San Manuel is a top-10 private employer in San Bernardino County in Southern California with more than 4,900 team members. The Tribe currently has a major expansion project underway at San Manuel Casino featuring 432 guest rooms, expanded high-limit gaming, new dining amenities and a special events space. This expansion will add more than 2,000 new jobs by the end of 2021.
Latham & Watkins LLP represented the Tribe in the transaction. The finance and real estate team was led by San Diego partners Sony Ben-Moshe (Picture) and James Mann, and Los Angeles partner Kenneth Askin, with San Diego associates Jeff Gonzalez and Will Swanson. The corporate team was led by Orange County partner Michael Treska, with Orange County associates Brett Urig, Paul Jeffrey, Mekbeb Hagos, and Trevor Yedoni. Advice was also provided on tax matters by Chicago partner Joseph Kronsnoble, with Chicago associate Michael Zucker; on intellectual property matters by Orange County counsel David Kuiper; on benefits and compensation matters by San Diego partner Holly Bauer; on environmental matters by Orange County partner Chris Norton; and on litigation matters by Orange County partner Andrew Gray, with Orange County associate Wesley Horton.
Involved fees earner: Kenneth Askin – Latham & Watkins; Holly Bauer – Latham & Watkins; Sony Ben-Moshe – Latham & Watkins; Jeffrey Charles Gonzalez – Latham & Watkins; Andrew Gray – Latham & Watkins; Mekbeb Negash Hagos – Latham & Watkins; Wesley Horton – Latham & Watkins; Paul Jeffrey – Latham & Watkins; Joseph Kronsnoble – Latham & Watkins; David Kuiper – Latham & Watkins; James Mann – Latham & Watkins; Christopher Norton – Latham & Watkins; William Swanson – Latham & Watkins; Michael Treska – Latham & Watkins; Brett Urig – Latham & Watkins; Trevor Yedoni – Latham & Watkins; Michael Zucker – Latham & Watkins;
Law Firms: Latham & Watkins;