Apollo Global Management completed the acquisition of The Venetian Resort and Sands Expo from Las Vegas Sands in a $2.25bn deal.

Apollo Global Management completed the acquisition of The Venetian Resort and Sands Expo from Las Vegas Sands, a developer of destination properties that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities and celebrity chef restaurants, in a $2.25bn deal, subject to customary closing conditions, of which $1.2bn is in the form of a secured term loan from LVS and the remainder is payable in cash. “In envisioning and building the Venetian Resort, Sheldon Adelson stands among the great American place-makers of the last 100 years. There are few assets in American commercial real estate that deserve to be called monumental, but the Venetian Resort is truly monumental in both its spatial grandeur and in its economics. Upon closing of the transaction, VICI will be honored to help steward the legacy of what Mr. Adelson and the Las Vegas Sands team, led by Rob Goldstein and Patrick Dumont, have built,” Ed Pitoniak, VICI Properties CEO.