The Tao Group has checked out of the Palms.
The hotel’s ownership company and the nightlife group have announced they are ending their professional partnership, effective immediately. Tao Group was to develop a vast pool and dayclub-nightclub venue on the east side of the property, and also a new restaurant, Chris Santos’ Vandal. Tao’s involvement in all of those plans has ended.
The statement from the hotel’s PR team arrived swiftly Monday afternoon:
“Red Rock Resorts, Inc. and Tao Group announced today that they have jointly agreed to terminate the agreements previously entered into by the parties in connection with the dayclub/nightclub and a restaurant that are scheduled to open around the end of the first quarter in 2019 at the Palms Casino Resort. The terms of the agreements are confidential, but no payment will be required of either party under the agreements.”
Red Rock Resorts owns the Palms. A hotel spokesman says the property still plans to move forward with the under-development projects, without Tao’s involvement.
Word is the venues would open by the spring, though no further details have yet been provided. Palms still has an existing partnership with Clique Hospitality, which has developed the 55th-floor Apex Social Club and Camden Cocktail Lounge just off the hotel’s main entrance.
Tao was expected to be a significant player in the Palms ongoing, $620 million overhaul across the entire property.
Tao still has an existing, expansive and long-running business relationships with Las Vegas Sands at Venetian/Palazzo (Tao restaurant and nightclub/beach club and Lavo restaurant), and at the Cosmopolitan of Las Vegas (Beauty & Essex and Marquee).
The Review-Journal is owned by the family of Las Vegas Sands Chairman and CEO Sheldon Adelson.