Las Vegas Sands is selling Las Vegas. The price tag: $6.25 billion.
Vici Properties said Wednesday it will pay $4 billion for the real estate — the Venetian, Palazzo and the Sands Expo Convention Center. Apollo Global Management will buy the operations for $2.25 billion, roughly half financed by Sands.
The sale comes as Las Vegas Sands doubles down on its investments in Asia. Before the pandemic, Sands’ properties in Asia accounted for roughly 90% of its revenue with significant investments planned to expand in Macao and Singapore.
“This company is focused on growth, and we see meaningful opportunities on a variety of fronts. Asia remains the backbone of this company and our developments…