Maloof & Morton Settle

An ongoing legal battle between Palms Casino Resort owner George Maloof Jr. and restaurateur and clubowner Michael Morton has been settled in an “amicable and mutually beneficial way.”

The terms of their settlement will see Maloof and Morton parting ways, with Morton selling off his interest in their joint enterprise, according to a statement reported by the Las Vegas Sun.

“Under the terms of their settlement, George Maloof will take over the management of N-M Ventures, the entity that owns and operates N9NE Steakhouse, Ghostbar, Rain Nightclub, Nove Italiano, the Playboy Club, Moon Nightclub and the Stuff store, all in the Palms Casino Resort,” the Palms said in the statement.

During litigation, Maloof reportedly claimed that Morton had mismanaged and diverted some of their joint assets into his wine bar/restaurant La Cave at Wynn Las Vegas. Morton denied the allegations and said Maloof and several N9NE investors were attempting to force him out of the venture, the Sun reported.