Sands sells its assets and real estate for $6.25 billion

Gambling News and Lucky Stories

The world-famous giant of the hotel and gambling business Las Vegas Sands is moving to a new level and new markets – the company is actively reinvesting in Asian countries. The management decided to sell its assets and real estate in the entertainment capital of Las Vegas. The “lot” included some of the largest companies in the United States – a popular conference hall “Sands Expo” and a casino resort “The Venetian Resort Las Vegas”. The total cost of these facilities is $2.25 billion. Almost half of the amount – 1.2 billion will be paid in cash, and the second part under a loan agreement. The buyer is Apollo funds. But the remaining majority of the assets and real estate will be transferred for $4 billion to the investment giant – VICI Properties, which have existed separately from Caesars since 2017 and have become a major player in the American gambling market. The deal is considered successful and promising for each participant, we recall that Las Vegas is the recognized capital of gambling and entertainment – more than 40 million tourists visit it every year, leaving a lot of money in the casino.

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