Yesterday, we chronicled Joe and Gavin Maloof’s high-profile push for a National Hockey franchise in Las Vegas, in which they would be minority owners if current NHL deliberations go their way. But what of casino-oriented younger brother George? Just as Joe’s profile in Las Vegas has been rising, George has been conspicuously absent from the limelight of late, with the odd exception. These include his attending (and donating generously to) the first fundraising dinner for Eating Las Vegas co-author Max Jacobson back in early 2014, with a more recent sighting on March 29, 2015, when he was among the guests celebrating Chef André Rochat's 35th year as a Las Vegas restaurateur at a dinner at Monte Carlo. On May 14, George also attended Kerry Simon's 60th birthday, which took place at the Rock 'n Roll Chef's eponymous restaurant at Palms Place, shortly before it closed.
Still, such sightings are indeed a rarity these days, prompting LV Sun entertainment columnist John Katsilometes, who hangs out regularly at the Palms, to lament in August of last year how he "missed seeing George around the property. It is a way different vibe without running into him at the gift shop or in the sports book, which happened frequently in what we can now call the old days of the Palms."
Having ridden high since the Palms debuted in November, 2001, with a flamboyant grand party attended by Paris Hilton, Pamela Anderson, Dennis Rodman, and Samuel L. Jackson, George (along with others in town) took a flier into the timeshare business, building Palms Place, only to be caught out when the condo bubble burst. The brothers sold the family’s cash cow, its New Mexico beer distributorship, in an effort to salvage the Las Vegas investment, but to no avail. With a giant, $400 million, loan hanging over Maloof’s head, Leonard Green & Partners LP and TPG Capital offered to retire the debt in return for equity in the Palms, leaving the Maloofs with a two percent share of Palms ownership, although George would still reportedly be overseeing operations, with the option to buy back up to a 20 percent stake.
Green and TPG were quick to make economies, including terminating the Palms’ association with Playboy Enterprises. Out went the Bunny dealers, along with the Playboy Club and the big rabbit-head logo off the (former) Playboy tower. The loss of the hotel-casino also dealt an indirect blow to the Sacramento Kings, as discussed in yesterday's QoD. Another family sporting venture, the Maloof Money Cup for skateboarders, also appears to have fallen by the wayside.
Maloof put the best face he could on the de facto buyout, telling Katsilometes, "It’s a positive thing. We’re in a strong partnership and there’s no debt on the property, so it’s good for the hotel and the family. We still have ownership, and as time progresses, we’ll have more."
The takeover also set in motion a revolving door in the president’s office. Out went Maloof’s man, Paul Pusateri, in favor of Hard Rock Hotel ex-prexy Joseph Magliarditi. He lasted about two and a half years before being replaced with Dan Lee, formerly Steve Wynn’s number-two man at Mirage Resorts. But Lee only made it through eight months on the job. Todd Greenberg is the current president and CEO.
Youngest (and most publicity-averse) brother Phil Maloof, a former New Mexico senator in the 1990s, has since forsaken a political career for various other enterprises, including executive-producing programs for Maloof Productions, including Bullrun and Living Lohan. The production company's website would indicate that business is no longer operational, however.
More recently, the cigar-smoking youngest Maloof brother he teamed with the Alec Bradley cigar company to make a Maloof-labeled brand of cigars, which you can read more about in the Jan/Feb 2014 edition of Cigar Aficionao magazine, but this venture seems to have been a strictly limited-edition affair, with only 50 boxes produced. He’s also credited with dreaming up Zing vodka, inspired by his mother’s red-velvet cake recipe and a rival vodka brand he came across that featured a bottle that lit up. Reported Cigar & Spirits Magazine, "Every bottle comes equipped with an LED light in its base, which you can turn on and off, and illuminates the entire bottle and liquid inside. The Red Velvet illuminates red, while the original flavor illuminates blue … It is enough to make heads turn and let everyone know where the fun is."
Sister Adrienne, meanwhile, who's long been credited with heading marketing and promotions for the family's various diverse businesses, embarked on some self-promotion when she starred in Bravo’s The Real Housewives of Beverly Hills until 2013. Having divorced rhinoplasty specialist Dr. Paul Nassif -- in a messy tabloid break-up characterized by a series of restraining orders and TMZ headlines, she burnished her cougar credentials by dating Rod Stewart’s son Sean, 19 years her junior. Adrienne continues to promote Zing!, has added shoe and earring designer to her list of credentials, and, as of the last report from AdrienneMaloof.com, had adopted a puppy named Petunia. Unlike her bachelor brothers, she has also taken some time out to raise a family, having three sons: Gavin, Christian, and Collin, ensuring that the Maloof dynasty lives on.
While recent years have certainly seen something of a roller coaster ride for the family, in a rare introspective moment not so long ago, Gavin recalled his father, George Sr.’s values to CNBC as "Integrity. Loyalty. Respect others," adding "That’s why we have had so many opportunities and have done so well, because people want to do business with us. They know that we can be trusted, and they are going to get an honest shake." Adds Phil, "People need to be positive, and that’s what we always bring is just a positive outlook. We make people feel good about themselves, because there is always something positive in everybody. There are already too many negatives in this world … My dad was the master of getting on somebody’s case, but then building them up three times higher after."
