LODGING / 2000-Current



Featured Developers:

The Maloof Family
Joe, Gavin, Colleen, Phil, Adrienne, George 

Owners of: the Sacramento Kings, Monarchs, the ARCO Arena, the Palms Hotel and Casino, Maloof Productions among many other businesses.


The Maloof family history in the United States dates back to 1892 when Joe Maloof I opened a small general store in northern New Mexico. By the 1930’s, the Maloof family acquired the distribution rights to Coors Beer and subsequently established Quality Imports, a wholesale fine liquor distribution center, in 1937. When Joe Maloof I suffered a major heart attack in 1944, his son, George J. Maloof, left his studies at the University of Colorado to assume responsibility of the Maloof Companies at the age of 21.

George J. Maloof successfully expanded the family business into a group of diversified companies, moving into the hotel and banking sectors in the 1970’s. In 1978, responding to his love for sports and competition, Maloof purchased the majority ownership of the Rockets. However, just two years later during the Rockets’ rise to the upper echelon of the NBA, Maloof passed away at the age of 57. His wife, Colleen, assumed control of the entire Maloof operation and rather than selling off the company assets, she enlisted the assistance of her five children. Under Colleen Maloof the family expanded their beer and liquor distribution operations and later opened their first gaming property in 1992. From 1990 to 1992 the family also owned the Birmingham Fire of the World League of American Football.

In 1994, the Maloof family made a $10 million investment in a small piece of property in North Las Vegas, building the quaint 30,000-square foot, 100-room Fiesta Casino Hotel. After a pair of expansive renovations, the 75,000-square foot Fiesta became one of the most profitable hotel casinos per square foot in the entire state of Nevada. In fact, in an August ‘99 edition of the USA Today, the Fiesta Casino Hotel was voted one of the world’s 10 greatest gambling destinations, ranking with the likes of the Bellagio and Caesars Palace in Las Vegas and the Trump Taj Mahal Casino Resort in Atlantic City.

n July of 2000, the Maloof family sold the operating interest in the Fiesta Hotel Casino for over $185 million. The family immediately re-invested the money into the construction of the Palms, a $285 million hotel casino just off the Las Vegas strip with a 42-story tower and 447 guestrooms. The Palms, which opened for business on November 15, 2001, features outstanding customer service, unique architecture, and award winning restaurants, entertainment, nightlife, and amenities. In just four years of operation, the Palms has become the hottest property in Las Vegas with thousands of visitors daily. The Palms is currently undergoing an expansion that will include additional rooms and amenities for use later this year.

In addition to their gaming business, the Maloofs have exclusive proprietorship rights to the distribution of Coors, Miller, Corona, Heineken, Tecate, InBev, Boston Beer, and Guinness products throughout New Mexico. The Maloof Companies also is one of the largest single shareholders in Wells Fargo Bank, which operates banks and branches in 23 states throughout the Western United States with over $200 billion in assets and 15 million customers.

The Maloofs are in the process of expanding their business in the entertainment industry with the development of Maloof Productions and Maloof Music. Maloof Productions is committed to developing and producing quality television and motion picture entertainment. The Maloof Music label debuts as a joint venture with Interscope/Geffen/A&M Records, which is the largest record company in the world under the direction of chairman and legendary music mogul Jimmy Iovine. In fact, Maloof Music is the first joint venture with Interscope/ Geffen/A&M without a previous music industry background such as an artist, writer, or producer.


2000 Texas Station   Las Vegas, NV www.stationcasinos.com
  Aladdin Hotel (Planet Hollywood)   Las Vegas, NV www.planethollywood.com
2001 Suitehotel Accor   www.suite-hotel.com
Green Valley Ranch   Las Vegas, NV  
Palms George Maloof Las Vegas, NV www.palms.com
Greek Isles Hotel   Las Vegas, NV  
2002 Boardwalk Hotel   Las Vegas, NV  
2003 The Hotel at M. Bay   Las Vegas, NV www.mandalaybay.com
2005 Cambria Suites Choice Hotels    
Wynn Las Vegas Steve Wynn Las Vegas, NV www.wynn.com
Aloft by W Hotels Starwood Hotels    
South Coast   Las Vegas, NV www.southcoastcasino.com
2006 Hooter's Hotel   Las Vegas, NV www.hooterscasinohotel.com

2000 MGM Grand announces the purchase of Mirage Resorts
2004 Barrick Gaming puchases the Plaza, Las Vegas Club and Gold Spike Casinos
  MGM Grand purchases Mandalay Group for $7.9 Billion
  Boyd Gaming merges with Coast Casinos forming the 5th largest gaming operator

Also at this time in History
Other Brands: 2002- Outback Steakhouse opens a new concept Cheeseburger in Paradise
  2005- Rockfish Grill opens in Kendall, FL
Other Things: 1912- New Mexico and Arizona are admitted as states.
  1912- The Titanic sinks on its maiden voyage after hitting an iceberg
  1919- Dial telephones are introduced by the American Telephone and Telegraph
     Company. Telephone operators, mostly women in the workforce, protest and
     threaten to strike.

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