Maloof family
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The Maloof family is of Lebanese descent.
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[edit] Sports
The Maloof family is a family group which owns several business properties and professional sports franchises. They are best known for being the owners of the Sacramento Kings of the National Basketball Association (NBA) and the Sacramento Monarchs of the Women's National Basketball Association (WNBA).
[edit] Las Vegas
In 1994 they bought the Fiesta Casino in Las Vegas, Nevada for $8 Million, selling it in 2000 for over $185 Million. The money was reinvested into the creation of The Palms hotel and casino. George Maloof Jr. is credited with upping the star power in Las Vegas, catering to the young, hip Hollywood elite. Paris Hilton was most closely associated with the resort, and was reportedly paid tens of thousands in "appearance fees" to attend Palms clubs and parties.
The Palms recently completed phase one of a $600 million expansion with their "fantasy tower." It features over-the-top fantasy suites, ranging from the Hardwood Suite with a half-court basketball court, to the Hugh Hefner Sky Villa, a two-story suite modeled after the Playboy Mansion. Rooms go for up to $40,000 per night. The fantasy tower will also include the world's only Playboy Club, the first to operate in 25 years.
A third tower is currently under construction, with a planned opening late 2007. It will be all suite, luxury condominiums. Numerous celebrities have already purchased condos for their own personal use. Most will be rented out as rooms to guests with the Palms and the individual unit owners splitting the proceeds. Upon completion of the their tower, the Palms is estimated to be a $1 billion resort.
[edit] Entertainment
The Maloofs expanded their business into the entertainment industry with the creation of Maloof Productions and Maloof Music. Maloof Productions places its primary focus on developing and producing film and television programming: the television division, Maloof TV, produced the 2007 reality series Bullrun for Spike TV; the film division, Maloof Motion Pictures, produced the 2006 film Feast and is currently developing The Big Biazarro with Pierce Brosnan set to star. The Maloof Music label is a joint venture with Interscope/Geffen/A&M Records.
[edit] Miscellaneous
In addition to their gaming business, the Maloofs have exclusive proprietorship rights to the distribution of Coors, Miller, Corona, Heineken, Tecate, InBev, Boston Beer, and Guinness products throughout New Mexico. The Maloof Companies also is one of the largest single shareholders in Wells Fargo Bank, which operates banks and branches in 23 states throughout the Western United States with over $200 billion in assets and 15 million customers.
The family consists of George J. Maloof, Sr., his wife Colleen, and their children:
- Adrienne Maloof-Nassif (born September 1, 1961)
- Joe Maloof (born Joseph George Maloof November 15, 1955)
- Gavin Maloof (born Gavin Patrick Maloof October 9, 1956)
- George J. Maloof, Jr. (born George Joseph Maloof, Jr. September 2, 1964)
- Phil Maloof (born Phillip James Maloof April 9 , 1967)
Phil Maloof, a New Mexico state senator in the late 1990s, ran unsuccessfully against Heather Wilson for New Mexico's 1st congressional district in 1998.
Gavin Maloof graduated from Trinity University in San Antonio, TX in 1979 with a BA in Speech/Communications.
[edit] Trivia
- The Maloofs frequently appear on the television show, Las Vegas.
- Phil Maloof owns the console of the Barton organ installed at Chicago Stadium.
