Welcome to MtM #Vegas – This is our special edition covering the blockbuster sale of #Venetian Las Vegas for $6.5 billion. Venetian including all three towers, the Grand Canal Shoppes and the #Sands Convention Center has now sold to VICI Properties and Apollo Global Management. This is the most expensive hotel sale in Las Vegas by far!
Under this proposed sale VICI would own the land while Apollo would operate the assets. During a huge transitional time for Las Vegas this could be a big catalyst for change on the Vegas Strip. Las Vegas Sands will focus their attention on Asia and specifically their properties in Macau and Singapore.
Don’t forget to leave a comment to let us know what you think of this sale.
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36 comments
Have you guys heard what the details on the IHG part of the Venetian? I’m an IHG spire elite member and I’ve been using them for my perks/ points system with the Venetian. Will they continue running there you think?
Awesome. Vegas is the place to be.
Adelson was a good guy for continuing to pay the Venetian employees during Covid.
The RIO property will get dumped by years end, mark my words. And another prediction, MLB wants the land and with AGM paying that yearly empty lot assessment they have been wanting to unload that for years
Ok, I must have missed something somewhere. I heard you say Bellagio has been sold??? The website still shows it as an MGM Resorts property…
These huge casino resorts depend on millions of tourists jetting into Vegas from all over the world. And that's not happening! People need to be in the casino gambling, not wandering around the Strip getting into fights. If it doesn't turn around or improve by Labor Day, get ready for more sales and bankruptcies.
M2M, we love to play armchair economist, so I’m IN!: ok, so makes sense to me to buy now, the next few QTRs are expected to do well as our economy builds more steam. So buying now was a deal. Hopefully they do not re-theme and keep the properties at high standard. Time well tell if they start nickel and dime the luxury exp. overall timing is right. As prices would’ve gone up for sure! As far as Rio and Trop they need to be re- done to the studs. I’m looking forward to see N. Strip plays out with new Resort World standard.
Adelson died main reason sold !
Venetian/Pallazo is the largest hotel in the world
that guy on the right looks like Hacksaw Jim Duggan
Great info, thanks Shawn & Mark!
Turn it into a homeless shelter
I stayed at Venetian for a week in August. Was by far the best of all the places I've stayed at in Vegas. Hope the quality doesn't drop.
thanks for the video! so i got lost in the canal shops and ended up outside with all the fed ex and ups trucks and had to walk a long way around the outskirts of that giant property lol. i hope derek stevens buys a strip resort. i think planet hollywood would be perfect for him.
Thanks Shawn! CAB😊
Venetian las Vegas sold, very informatif
Talking smack about Planet Hollywood at the end, no! It’s one of my favorite places to stay, the high floor Ultra Hip rooms are a real bargain.
Hey guys
Mark. Did u go to Vegas yet? Cool video. I hope they don’t change anything
What happens now? Well the management personnel will loose their high end salary in fact who ever is up from managers, the new owners will bring their management. The less payable people will be kept.
That was their best choice to sell now before it depreciates.
If Caesars managed it, the quality of this property would decline significantly. I'd hate to see this beautiful property deteriorate.
I'm worried that property will go downhill!!! I've been a tourist at the Venetian for many years..my FAVORITE HOTEL!!! I'd REALLY hate to change hotels at this point!!
Great insight guys! I have always been a Bellagio person, but exciting to see the north strip changes! Definitely will check out Resorts World on my next trip!
Miles watchers here is something just for you. If you die today will you go to heaven? Have you ever lied, stolen, hated, used God's name as a curse word (O-M-G)? According to God's law, you're guilty, your headed for hell, ignorance will not be an excuse… But wait, God loves you, he made a way out for you, God's son Jesus died paying for your sin. God so loved the world that he gave his only son that whoever believes in him will not die but have everlasting life. John 3:16
God is warning the world.
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The earth is experiencing birth pains like never before, earthquakes, fires, floods. People now are lovers of themselves, money, lovers of pleasure rather than God, we see sexual immorality running rampant like adultery, fornication, homosexuality, sexual abuse rape… the ultimate in child abuse mommies killing their babies in selfish child sacrifice (abortion), and religious persecution against Christians only (they will hate you because of me, Jesus (Matthew 10:22).
The world leaders are prepping for a,"One-World order," a "Great Reset," (please don’t take a number on your forehead or right hand, read Revelation a number means no heaven, and there's only one alternative, eternity in darkness, suffering in a lake of fire)
Soon the believers in Christ/Christians will be taken up, away with God, the world will be in turmoil, then the antichrist will come and fix everything, everyone will love him, he will deceive many with his worldwide lies… then the tribulation will start, you will be forced to worship the beast and take his number. Life on earth will be horrific.
Today if you hear God whispering to your heart please respond before it's too late. Say a humble prayer, pour your heart out to God, receive Jesus as your savior, believe God raised Jesus from the dead (Romans 10:9), and repent of your sins, you are now saved by grace! Ephesians 4:8-9(NOT BY WORKS)
Thanks for the update. My partner and I really enjoy your uploads. We were wondering who owns VICI & Apollo? When we finally can travel again, we always enjoy going to Venetian. What's the fate of Palazzo? Stay Safe Shawn & Mark 🙂
If Caesars rewards were tied to this I'd certainly love to stay there again.
Hopefully, they keep it up, it's a beautiful casino,
Las Vegas continue to fail because they do not have any conventions open. Gambling, hotel revenues are not enough to keep those strip casinos from going broke. It looks like all the big whales are going to Asia. Vegas will not recover for a while.
Is China buying out Vegas????
As an individuals who worked at Caesars and the Venetian, I can honestly tell you that we are witnessing the end of the good times at the Venetian. Hearing that Apollo and Vici bought in, is nothing more than a sign of things to come. Before you know it, there will be $5 games everywhere, a reduction in staff, a reduction in pay, and a plethora of nonsense rules for employees to follow. Those companies did nothing for Caesars but sit idle in the wake of the damage the Gary Loveman caused. All thing being equal, you can expect the same results at the Venetian. I remember the days when the Venetian was a great place to work and feel for the friends I still have working there. Pray for the best, and expect the worst.
Coomer & Ostermann! Keep up the great work!
It will be interesting IF Caesars does take over and what they will do to the property
We have been going to the Palazzo for 14 years. It was sad the rumors started that it was for sale, when he passed and then it sold. We sure hope the quality of the stay doesn’t go down. They staff has become our friends and family. All things must change and things have changed over the years in the hotel but it would be sad to see corners cut and staff gone.
Anything the "bright boys" who know nothing about hotels or casinos touch turns to offal. Watch the self-appointed geniuses get rid of the people who know how to run a class operation–it'll go broke, but the "geniuses" will pay themselves very well in the meantime.
Vegas still make money,it is entertainment center of the world !!!! I LIKE ADELSON.
LVD stock is in free fall….