The Maloofs, who own the Sacramento Kings, have lost majority control of the Palms Casino and Hotel in Las Vegas amid rampant reports of the family’s financial demise.
Maloofs Now Own Just 2 Percent Of Palms And No Longer Run Resort, Putting Kings’ Finances In Question
Maloof replaced as Palms president
Maloof remains as chairman of the board, but his operations role has been significantly reduced in recent weeks.
Meanwhile, Kings fans remain concerned the Maloofs will follow through on their promise to spend.
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