While industry scuttlebutt had been swirling recently due to management changes and rumored behind the scenes drama with Kaos, it was somewhat surprising to see the venue has been officially closed today by Red Rock Resorts, Inc. the owners of the Palms Hotel and Casino.
Red Rock Resorts, Inc. gave the following statement:
“This afternoon, Red Rock Resorts, Inc. announced the closing of KAOS dayclub and nightclub at the Palms Casino Resort, effective immediately. While Palms has experienced exceptional growth across both the gaming and non-gaming segments of the business, the expense side of the business has been challenging to date, due in large part to the entertainment and fixed cost structure associated with KAOS. Therefore, we have decided to take some time to reassess the programming and use of those venues going forward. In the interim, we intend to use the venues for private meeting space and special events, in addition to everyday resort pool operations.”
We would expect in the summer of 2020 to see some sort of pool parties, etc. take place at the venue with known djs as the venue is well-regarded.
Regarding the artists booked to play:
“We have taken a one-time charge of $28.2 million in the third quarter related to termination of certain artist performance agreements …we anticipate taking similar one-time charges over the next couple quarters.”