Sands completes sale of the Venetian

The sale of the Venetian resort in Las Vegas has been completed, reports Las Vegas Sands Corporation.

The $6.25bn deal sees ownership of the the Venetian, Palazzo and Venetian Expo to affiliates of Apollo Global Management and VICI Properties.

Commenting on the sale, Sands CEO Robert Goldstein said: “We believe our strong balance sheet and an industry-leading portfolio of integrated resorts in Macau and Singapore, position the company to experience a new era of opportunity and growth.”

He said that the group would now concentrate heavily on reinvestment in its portfolio in Asia. The group had recently announced a $1bn reinvestment at Marina Bay Sands in Singapore and has completed the $2.2bn renovation of The Londoner, Macao.