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Sands Expo and Venetian and Palazzo resorts sold in $6.25bn Vegas deal


Las Vegas Sands Corporation has sold the Sands Expo, Venetian and Palazzo resorts along with its other Las Vegas properties, as the company shifts its focus to Asia.
Sands officials announced the sale on 3 March. Affiliates of New York-based Apollo Global Management Inc. and Vici Properties Inc. will acquire subsidiaries that hold the real estate and operations of the Strip’s Venetian and Palazzo resorts and the Sands Expo and Convention Center for a total consideration of US$6.25bn.
Sands Corp. had confirmed back in October it was considering offers for the Las Vegas properties in a move which analysts expect will allow it to concentrate on its Macao and Singapore businesses. ....

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The Venetian, Palazzo, Sands Expo sold for $6.25 billion on the Las Vegas Strip


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
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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 Vene ....

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