Las Vegas Sands Leaves Las Vegas After Selling Venetian for $6.3 Billion

Las Vegas Sands (NYSE: LVS) is leaving Las Vegas and completely abandoning the U.S. casino market after it agreed to sell The Venetian Resort for $6.25 billion. Apollo Global Management (NYSE: APO) will acquire the operating company of The Venetian, which includes the resort, the connected Palazzo resort, and the Sands Expo and Convention Center, for $2.25 billion, while VICI Properties (NYSE: VICI), the real estate investment trust (REIT) spun off by Caesars Entertainment (NASDAQ: CZR) in 2017, will buy the real estate assets for $4 billion.