LSV sells U.S. properties, focuses on Asia
/Las Vegas, 3rd March: This week, the Las Vegas Sands Corp. announced plans to sell The Venetian, its flagship Strip resort, and the rest of its Las Vegas properties. The properties will be sold to private equity group Apollo Global Management Inc. and real estate investor Vici Properties Inc. for US$6.25 billion.
Las Vegas Sands management stated that after selling its Las Vegas properties, the group will focus on the highly profitable operations of its Asian assets – including six resorts in Macao and its hotel-casino in Singapore. This deal was announced less than two months after the death of LVS founder, Sheldon Adelson.