Since January 2008 the interest of the Maloofs’ Palms Casino Resort has dropped 87%. Station made a declaration that 15 month ago the value of Palms was $ 386 million and now it dropped to just $ 50 million.

George Maloof Jr., the owner of Palms Casino Resort, Sacramento Monarchs and Sacramento Kings, together with his brothers Gavin, Joe and Phil and his sister Adrienne, when he heard about the estimation that Station made, he called it ridiculous. He claimed that the resort is doing well, there’s just a weak economy at the moment in the whole casino industry. Other experts believe that Palms will stay financially strong.

Another source, who knows Palms' finances very well, affirmed that its cash flow fell 19 % last year, to $ 51 million. The source, of course, wanted to stay anonymous.