Red Rock Resorts announces completion of Palms acquisition

Red Rock Resorts Inc. has announced that Station Casinos LLC has completed its acquisition of the Palms.

With the acquisition of the Palms, company officials said in a statement that Station Casinos now has 20 properties across the Las Vegas Valley and is positioned to benefit from strong economic trends and record visitation levels.

In the statement, officials said the Palms is located adjacent to the Strip at 4321 W. Flamingo Road and provides Red Rock Resorts with a leading gaming asset in one of the most underpenetrated areas of its loyalty card Boarding Pass program as well as the opportunity to appeal to out-of-town guests.

“We are excited to welcome the talented members of the Palms team to the Station Casinos family. The Palms outstanding location, premium amenities and highly recognizable brand will allow us to provide a new level of excitement for local and visiting guests to Las Vegas,” Marc Falcone, executive vice president, chief financial officer and treasurer of Red Rock Resorts, said in a statement.

Shares of Red Rock Resorts closed at $22.92, down 13 cents or 0.56 percent.