A falling-out with UFC president Dana White is the latest setback for the hard-hit Palms, sources confirmed Sunday. The blowup occurred about six months ago when White, furious that his credit line was cut in half, pulled all UFC-related events from the Palms and has not returned.
Sources said White immediately informed Palms president Joe Magliarditi he was severing all ties. Magliarditi was hired a year ago to rebrand the hotel, after the Maloof family lost 98 percent of its ownership when the recession ravaged the city.
The UFC had an exclusive contract with the Palms to hold televised “Ultimate Fighter Live Finale” events at the hotel as well as local UFC fights.
One of the Palms’ biggest gamblers since it opened 11 years ago, White’s tipping habits were legendary.
“He changed people’s lives,” said one of the sources.
Dealers and wait staff were among the hardest hit by White’s departure. During one two-month hot streak, White tipped dealers more than $100,000, sources confirmed.
“Anytime he came in, we knew it was a big payday,” a Palms employee said.
A regular at N9NE Steakhouse, White routinely ran up dinner tabs of $15,000-$20,000 and tossed in $10,000 tips. That happened three or four or times a week, the sources said.
See? Proof that trickle down economics work, at least when you’re within range of mega-millionaires like Dana White burning through mad stacks of cash. This is actually good news in my books – I’ve had an irrational hatred of the Pearl at the Palms for years now and am glad to see it out of the rotation. That’s what happens when you don’t treat your God with the appropriate amount of reverence.