Las Vegas Sands has closed the $6.25 billion sale of The Venetian Resort and adjacent convention center on the Strip. Funds managed by affiliates of Apollo Global Management completed the acquisition of the casino resort, a spokesperson said Wednesday February 23rd.VICI Properties was set to purchase the real estate for $4 billion, while Apollo would acquire the operations of the Venetian for $2.25 billion. The convention space will now be known as The Venetian Expo.Source: https://news3lv.com/news/local/las-vegas-sands-closes-sale-venetian-resort-strip-appolo-palazzo-sheldon-adelson-casino-transactionLas Vegas Sands has said the sale would help position the company for growth in Macao and Singapore. "The opening of The Venetian more than 20 years ago represents the beginning of the company's success," CEO and Chairman Robert Goldstein said in a statement. "The property, and most importantly, the people who represent it every day will always remain indelible parts of our history."
Sands' headquarters will remain in Las Vegas, and the company says it will still be active in the community.