Nevada approves sale of LVS casinos

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Regulators in Nevada have approved the $6.25bn acquisition of Las Vegas Sands’ Las Vegas properties by Apollo Global Management and Vici Properties.

The Nevada Gaming Commission voted 4-0 to approve the deal after discussions focused on the potential role of Apollo’s former CEO and founder Leon Black, who stepped down last year due to his associations with convicted sex offender Jeffrey Epstein.

The regulators also wanted more information about Apollo’s experience with Caesars Entertainment, which filed for bankruptcy protection in 2008 shortly after being taken over by the US-based fund.

Las Vegas Sands said that it was selling its iconic Las Vegas properties in March last year. in order to focus on Asia. These include the Venetian and Palazzo. The deal leaves Las Vegas Sands with no assets in the US, although it hasn’t ruled out seeking opportunities there.

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