This Week in Gambling: Sands Corporation leaving Las Vegas

Just when you think things can't get any stranger, the Sands Corporation has announced the sale of The Venetian Las Vegas and The Palazzo Resort Hotel Casino resorts, along with their Sands Expo Center! And in a year of pandemic challenges for the gambling industry, there is still good news and reason for hope.

It’s been less that two months since the Sands Corporation lost their leader, Sheldon Adelson. And now the company has made a major announcement about their future in Nevada: There is none! A deal has been reached which will allow Apollo Global Management and Vici Properties to buy the Sands Las Vegas properties for $6.25 billion. When completed, the Sands will no longer have a presence in Sin City... or Nevada, for that matter. With the Venetian sold and the Palazzo sold, the Las Vegas Sands Corporation will subsequently change it’s name to simply “Sands” as a result.

LAS VEGAS REVIEW JOURNAL: The sale of Las Vegas Sands Corp.’s Strip assets is a positive sign for its namesake city, industry experts say. The company announced Wednesday that it is selling its Las Vegas properties to Apollo Global Management Inc. and Vici Properties Inc. for $6.25 billion — a price tag large enough to show there’s still value in the Las Vegas market.



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