Stations bought the Palms from Texas Pacific & Leonard Green in 2016. Back in 2011 Maloof had effectively mortgaged it to them but continued to operate it for them under his licence in a form of lease agreement. He maintained 2% interest for gaming licence purposes.
The redemption notices on the chips went out somewhere round August 2020 (pandemic time). Palms was boarded up with notices to cash chips at Stations.
I recall that the redemption notice got an extension on the 120 days due to the pandemic so probably ended March or April 2021.
Once the Palms re-opened (later in 2021?) the old chips were already dead.