Hotels The Palms replacing well-recognized sign as part of renovation By Danny King / February 14, 2018 Share 1 -- The Palms Casino Resort in Las Vegas on Tuesday began removing sections of its colorful Flamingo Road marquee as part of $485 million in upgrades planned for the 17-year-old property. Workers began taking down the 14-foot-high "PALMS" letters on the blue, teal and salmon-colored sign. The marquee will be replaced by an all-digital sign later this year.Owner Red Rock Resorts, which acquired the 710-room property for $316 million in 2016, is spending $485 million renovating the property.In addition to the new signage, Red Rock is updating the front desk, center bar and Pearl Concert Theater. A club called APEX Social Club will replace what had been Ghostbar and Camden Cocktail Lounge.Spanning three towers, the resort was opened in 2001 by the Maloof family. The following year, MTV filmed its reality show, "The Real World: Las Vegas," at the hotel, where a three-bedroom, 3,000-square-foot suite was rebuilt for the cast members. "The Real World Suite" is available for stays at the hotel.