Sands To Sell Its Las Vegas Properties For $6.25 Billion

Las Vegas Sands is selling Las Vegas. The price tag: $6.25 billion. Vici Properties said it will pay $4 billion for the real estate — comprising 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 is doubling 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 both Macao and Singapore. Read more at CNBC.