Apollo Funds to Acquire The Venetian Resort and Sands Expo and Convention Center Operating Company from Las Vegas Sands
NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, Apollo) today announced that funds managed by its affiliates (the Apollo Funds) have entered into a definitive agreement to acquire The Venetian Resort and Sands Expo and Convention Center Operating Company in Las Vegas (The Venetian) from Las Vegas Sands Corporation (NYSE: LVS) (Las Vegas Sands).
- NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, Apollo) today announced that funds managed by its affiliates (the Apollo Funds) have entered into a definitive agreement to acquire The Venetian Resort and Sands Expo and Convention Center Operating Company in Las Vegas (The Venetian) from Las Vegas Sands Corporation (NYSE: LVS) (Las Vegas Sands).
- Under the terms of the transaction, Apollo Funds will acquire the operating company of The Venetian, an iconic Las Vegas property and one of the largest integrated resorts in the world, for $2.25 billion.
- Simultaneous with the closing of the transaction, the Apollo Funds will enter into a long-term, triple net lease agreement for The Venetian with VICI.
- A marquee property on the Las Vegas Strip, The Venetian features three luxury hotel towers offering guests an array of gaming, entertainment, shopping and dining experiences.