Issue 072
February 2011
George Maloof: ‘The man who brought the stars back to Vegas’.
A pillar of the Nevada community, 46-year-old George Maloof displays the virtues one would expect from a Sin City businessman: work hard and play hard. It’s an agenda that’s seen him described as ‘one of the most powerful men in Las Vegas.’
“I’m not sure about the definition ‘powerful’,” says the softly spoken Maloof. “Hiring thousands of employees and supporting them is certainly one of the things I’m most proud of. My employees are important to me. I’ve been fortunate: the town of Las Vegas has been a great experience that I’m also proud to be part of, and hopefully I’ve contributed to the city.” As far as most Fighters Only readers are concerned, Maloof’s finest achievement is his backing of MMA – The Pearl at The Palms concert venue was recently the location for the 2010 Fighters Only World MMA Awards – and in particular the UFC, which has benefitted from use of a location more often associated with the more glamorous side of the music scene. “When the UFC opened up its training facility, it was right behind the Palms and the fighters used to always come here. [UFC owners] The Fertittas are actually investors in the Palms and good friends of mine. They’ve done a great job with the sport and we’re very close. So that’s how that started. I’m friends with Diego Sanchez, he’s originally from Albuquerque like me. BJ Penn’s a friend of mine too.”
Maloof’s father ran a liquor business in New Mexico, notably distributing Coors beer. The Maloof family had always dabbled in sports, and George currently owns the Sacramento Kings basketball team (and its female equivalent, the Sacramento Monarchs) alongside his siblings. Maloof, who describes even his infant self as “a workaholic,” headed out for college in 1984 to study resort management: in Las Vegas. Yes, Sin City boasts an institution of higher learning. “When you tell people, it always brings a smile to their faces,” relays Maloof. “But it’s a great university! I learned a lot and it was a fantastic experience.” Some of those landmark memories came in the form of sharing a football locker with infamous Death Row Records founder Suge Knight. “He was always first in the drills, first in sprints,” Maloof told the Las Vegas Sun earlier this year. “He worked hard.”
After graduating, George opened his first casino in Colorado before trying his initial Vegas venture, The Fiesta, in 1994. Then came the Palms Casino Resort. The late ‘90s saw huge investment in Vegas as the city was reinvented for a new generation. The quality of shows skyrocketed, nightclubs instituted hard-nosed entrance policies and even a Guggenheim art gallery opened up. The Palms was to typify ‘new Vegas’: slick, metropolitan, hedonistic without being sleazy, and in touch with a younger clientele. “We opened up just after September 11, 2001,” relays George, “so it was pretty challenging.” Global crisis around the launch aside, The Palms soon became the destination of choice for discerning thrill-seekers, and Maloof could add a new sobriquet to his growing list of plaudits: ‘The man responsible for bringing the stars back to Vegas’.
“We do things a little differently; we aren’t a themed resort,” Maloof explains vis-à-vis The Palms’ success. “We want to represent what Las Vegas is about: a place where people come to party and have fun. That hasn’t changed. We want to create a great experience for the visitor and the Las Vegas locals. I love our suites and our restaurants. The Pearl is the best place in the world to see a live event – or a UFC fight. The spa overlooks the whole city. Our nightclubs... We don’t have anything that I’m not proud of.”
The Palms’ ties to the West Coast’s great and good were there for all to see: after the untimely death of tune-spinner-to-the-jet-set DJ AM, the property’s illuminations were re-set in tribute to only show the ‘a’ and ‘m’. While Maloof isn’t pictured falling out of quite enough clubs for this journalist to claim he parties hard, he certainly at least knows how to. Trying to stay on top of work while mingling with VIP guests must be tough. “There’s nothing wrong with a round of blackjack, but working here you do have to respect the city,” says Maloof. “You can have fun, but... I’ve always put my business first. The Palms has always been my priority and I work every day. The other stuff is there and that’s what brings people to Las Vegas. Being able to cater to people’s experiences is part of what we do.”
Maloof’s business reputation is in contrast to that picked up by the other members of California’s fast crowd in their own ventures. He’s noted across Vegas for an industrious attitude, and his tips to other budding entrepreneurs are refreshingly austere. “Work hard and don’t give up is the one piece of advice I’d pass on. Get up early, be on time, practice, focus, prepare, get back to your customers and your employees. These are basic things that have always worked for myself and my family.” And they’re certainly doing the business at Vegas’ premier resort and venue.
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