It didn’t take long for The Palms to figure out who they wanted to become the new president and take over day-to-day operations. The company hired Joseph Magliarditi in June, shortly after he resigned as chief executive officer of the Hard Rock Hotel Las Vegas.
Magliarditi didn’t view it as leaving financially troubled property for another. He saw this as an opportunity to run a well-known hotel-casino that appeals to both tourists and locals.
“George [Maloof] has done a ridiculously good job of building a brand with the Palms,” said Magliarditi.
Magliarditi said that if any off-strip Las Vegas casino was in a good postion to make a quick financial rebound, it would be The Palms. The trick will be to keep a profitable balance of appealing to both the locals and tourists despite a locals market that has become “hypercompetitive.”
As of last Saturday, Ghostbar Day Club is now open. The decision to open the popular club during the day was an easy one for Magliarditi.
“It’s a way to carry pool revenue over during the winter months,” he said. “We expect good things from it.”
Magliarditi also expects the hotel to benefit financially from the upcoming remodel of the existing Palms tower. Magliarditi said plans were still in development, but he hoped to start sometime in April.