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Author Topic: Hmmm...winners and losers of this 6 Billion plus transaction?  (Read 286 times)

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Offline theking

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Hmmm...winners and losers of this 6 Billion plus transaction?
« on: February 24, 2022, 08:31:42 AM »
...in regards to stocks  ???:

Quote
Las Vegas Sands’ $6.25 billion sale of Venetian properties is complete

New owners Apollo Global Management, VICI Properties say guests should see few changes


https://www.marketwatch.com/story/las-vegas-sands-6-25-billion-sale-of-venetian-properties-is-complete-01645681010

LAS VEGAS — The new and old owners of the Venetian and Palazzo casino resorts and former Sands Expo and Convention Center announced Wednesday they have completed the sale of the iconic Las Vegas Strip properties for $6.25 billion.

Apollo Global Management APO, -1.74% and Las Vegas Sands Corp. LVS, -5.27% said in separate statements that gamblers, conventioneers and hotel guests should see few changes at the luxury hotel complex including the renamed Venetian Expo.

The names will remain the same and George Markantonis, CEO of The Venetian Resort, said the management team will stay in place.

“We have an exciting opportunity to build on our past successes while capturing future opportunities,” Markantonis said, citing hospitality, meetings and events, gambling and entertainment.

New York-based VICI Properties VICI, -1.71% acquired assets associated with the Venetian Resort Las Vegas and the expo for $4 billion. Apollo Global Management bought Venetian operations for $2.25 billion.

Apollo executives told Nevada casino regulators last week the company will step into an ongoing partnership with Madison Square Garden Entertainment Corp. MSGS, -1.48% to continue development of the $1.9 billion, 17,500-seat MSG Sphere being built just east of The Venetian Expo, the Las Vegas Review-Journal reported.



« Last Edit: February 24, 2022, 08:39:09 AM by theking »

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