On an upcoming episode of The Real Housewives of Beverly Hills Brandi Glanville states that Adrienne Maloof only owns 2% of The Palms Casino in Las Vegas. Brandi says she was discussing Adrienne’s finances because Adrienne was suing her for revealing Adrienne used a surrogate to carry her twin boys. When Brandi brings up Adrienne’s finances it leads to the argumentÂ between Camille Grammer and Lisa Vanderpump on Lisa’s ownership of SUR Lounge.
The Maloof Family is notorious for their many businesses, one of their most well known businesses is The Palms Casino, and when Brandi noted that Adrienne only owns 2% of the casino, we decided to do some research. Keep reading to see what we found!
According to Wikipedia, ‘In 1994 the Maloof family bought the Fiesta Hotel inÂ Las VegasÂ for $8 million, selling it in 2000 for over $185 million. The money was reinvested into the creation ofÂ The PalmsÂ hotel andÂ casino.
The Maloofs sold their beer distribution in an unsuccessful attempt to save the Palms and Palms Towers. TPG Capital and Leonard Green & Associates now own 98% (49% each). The Maloofs were left with 2% ownership. The Palms is currently going through a re-branding led by Joe Magliarditi.’
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