Private-equity giant; operates the Venetian via Apollo Resorts
Apollo Global Management operates the [[casino:venetian|Venetian]] and [[casino:palazzo|Palazzo]] complex through its Apollo Resorts & Entertainment subsidiary. Apollo acquired the operations from Las Vegas Sands for $2.25B in February 2022. The same transaction sold the real estate to [[operator:vici-properties|VICI Properties]] for ~$4B — making Apollo a tenant of VICI, paying ~$250M/yr in rent.
This was Las Vegas Sands' exit from the Strip — the company chose to focus on its Asian properties (Marina Bay Sands, the Macau portfolio) and to redeploy capital into a potential New York casino bid. Apollo is the operator of record on the Venetian's casino license.
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