Las Vegas Sands Corp. agreed to sell its Las Vegas properties to Apollo Global Management Inc. and a real-estate investment trust for about $6.25 billion as the casino operator exits the gambling hub to focus on its core Asia operations.
After the death of founder Sheldon Adelson in January, Sands executives said the company would continue to invest in its Singapore and Macau casinos, which generate most of the company’s revenue.
“As we announce the sale of the Venetian Resort, we pay tribute to Mr. Adelson’s legacy while starting a new chapter in this company’s history,” Chief Executive Officer Robert Goldstein said Wednesday. “Asia remains the backbone of this company, and our developments in Macau and Singapore are the center of our attention.”
Asia Pacific Hotels 