Despite being consistently well run, packed with clientele both local and high-end tourist,  Palms lost its financial footing in the recession with Palms Place (a badly timed condominium project). So, like Cosmopolitan and M, banks and investment funds are now calling the shots. Initial reports suggested the Maloof family could retain up to 20% ownership in the resort with local Greenspun Corporation also holding on to a small stake. But more recent reports leave out any mention of Greenspun (or math room for even a single percentage point of ownership), and put the Maloof ‘s share down to 2%. As for the remainder: “TPG Capital and Leonard Green & Partners..will own 49 percent each.” The good news is that George Maloof will remain running the resort for now which will thrill fans of the property. Of course, sometimes these things don’t go as planned. When Robert Earl lost control of Planet Hollywood, much noise was made that he would remain a public face and consultant to the property. But he seems to have instead vanished from Planet Hollywood. So, the trend continues of  banks and outside investors increasingly owning the casinos of Vegas. Of course, that is ominous for those who  believe Vegas thrives on the sort of creativity and risk  and other things  bankers and hedge funds are not known for doing.