On March 3, LVS announced that Apollo Global Management will buy the operating company of The Venetian, which includes the Venetian Resort and the Sands Expo and Convention Center, for US$2.25 billion, and VICI Properties will buy the land and real estate assets of The Venetian for US$4.0 billion.
Despite its name and legacy, Asia — and not Las Vegas — has been the key market of Las Vegas Sands (LVS), with years of investment sunk into Macau and Singapore.
Now, less than two months after the death of founder Sheldon Adelson, a notable supporter of former US President Donald Trump, the world’s largest casino operator by market value has taken the big step of exiting the US casino business with the sale of its two properties for US$6.25 billion ($8.32 billion).
