The Venetian, Palazzo, Sands Expo Sold for $6.25 Billion on the Las Vegas Strip
Two companies made an offer to purchase the Las Vegas casino giant
Share this story
Before Las Vegas Sands Corp. chairman and CEO Sheldon Adelson died in January, he teased that he was willing to part with his Las Vegas properties. Now two months after the 87-year-old casino magnate died from complications of non-Hodgkin lymphoma, the casino operator agreed to sell its Las Vegas properties for $6.25 billion to Apollo Global Management and VICI Properties Inc.
New York-based Apollo, founded by real estate investor and former CEO Leon Black, acquires the operating assets and liabilities of the Las Vegas business for approximately $1.05 billion in cash and $1.2 billion in seller financing while New York-based Vici Properties Inc., a real estate investment trust affiliated with Caesars Entertainment, acquires subsidiaries that hold the real estate and real estate-related assets of the Venetian for approx
Casino Magnate Sheldon Adelson Dies at Age 87
The chairman and CEO of Las Vegas Sands Corp. died at his home in Malibu, California, on Monday
Share this story
Shahar Azran/Getty Images
Sheldon Adelson, the chairman and CEO of the Las Vegas Sands Corp., died on Monday night at his home in Malibu, California, following complications related to his treatment for non-Hodgkin’s lymphoma. The 87-year-old went on medical leave from the company on January 7 to resume treatment for the disease originally diagnosed in 2019.
“It is with unbearable pain that I announce the death of my husband, Sheldon G. Adelson, of complications from a long illness,” his wife, Dr. Miriam Adelson, says in a statement from Las Vegas Sands. Adelson’s funeral will be held in Israel, the birthplace of his wife, and a memorial in Las Vegas, where he ran the Venetian and Palazzo casinos, will be held at a later date.