The Venetian Las Vegas Sale is Now Complete

Sold Venetian Palazzo Background

Las Vegas is home to many of the biggest and best casinos in the world. That includes The Venetian, which opened its doors on the Las Vegas Strip back in 1999. This week, reports confirmed that The Venetian Las Vegas sale by Las Vegas Sands has been completed.

This is one of the biggest casino sales to take place in Las Vegas in years. It’s far from the only one to happen in recent times, though.

Here’s what you need to know about the sale of this beloved casino.

Las Vegas Sands Completes The Venetian Las Vegas Sale

Most of the world’s biggest and most expensive casinos are located on the Las Vegas Strip. The Venetian opened its doors on the Strip in 1999 and immediately became one of the most popular resorts in the city. It has been owned and operated by Las Vegas Sands since its grand opening, yet this company has been working to tell the property for more than a year.

Las Vegas Sands has been struggling since the mass casino shutdowns in March of 2020. The company’s revenue figures remained low throughout 2020, yet began to increase in 2021. Executives have told the media that plan to sell many of their US properties in order to focus more on their operations overseas.

Updates on The Venetian Las Vegas Sale have been appearing over the last few months. This week, news broke that this massive casino deal has finally been completed. Las Vegas Sands has agreed to part ways with this venue, handing it over to Apollo Global Management for $6.25 billion.

Las Vegas Sands Chairman and CEO Robert Goldstein spoke about this sale to the media and reflected on the impact this venue has on the company.

“The opening of The Venetian more than 20 years ago represents the beginning of the company’s success,” Goldstein said. “The property, and most importantly, the people who represent it every day will always remain indelible parts of our history.”

This is a huge deal, yet things are unlikely to change much with this property. The name and overall operations will likely remain the same. Apollo Global has, however, confirmed that some new changes such as renovations may be coming to the venue. Stay tuned for updates over the next few months.

More Las Vegas Casino Sales Will Take Place This Year

Many analysts were surprised to first hear about The Venetian Las Vegas Sale. This is one of the biggest casino sales in US history. It now seems likely that more major casino sales will be taking place in Las Vegas over the next couple of weeks.

MGM Resorts International has already been involved in several of these major sales. This company agreed to sell The Mirage to Hard Rock International for just over $1 billion. This marks the first time that a tribal group owns and operates a major casino on the Las Vegas Strip.

MGM Resorts is also interested in buying. This company chose to purchase The Cosmopolitan last year for $1.6 billion, yet the deal has not been finalized. It’s a major purchase and came shortly after the announcement of The Mirage sale.

Caesars Entertainment and Bally’s Corporation have big plans for the city, too. Both companies have announced major acquisitions as of late. Both also appear interested in renovating several of their most popular casinos in Las Vegas.

2022 is already shaping up to be a very interesting year for the US casino industry. We’ll be sure to provide more information on the sales and major casino projects in the city over the next couple of months.

Will Nevada Legalize Online Casino Gambling This Year?

Nevada is home to more casinos than any other state in the country. Many groups have been calling on lawmakers to allow online casinos in this state in recent years. Various casino executives have pushed against this idea, arguing it will take away from revenue earned at land-based casinos.

Sentiment toward this subject seems to be changing, though. A growing number of casino executives believe that there is a major upside in the legalization of online casino gambling. The main upside is obviously the major revenue this would bring to these companies and the state.

MGM Resorts CEO Bill Hornbuckle is one man that now supports this move. He claims that it will help to benefit casino companies and help to bring a huge amount of tax revenue to the state. New Jersey is a good example of how successful online casino regulation can be.

It remains unclear if this is something that state lawmakers will focus on this year. There are other subjects likely higher on the priority list. It would not be a shock to see online casinos launch in this state within the next couple of years, though.

What do you think about The Venetian Las Vegas sale? What other casinos do you expect will go up for sale in Las Vegas this year? Let us know in the comments section below.

The Las Vegas Palazzo is No Longer Taking Weekday Reservations

Nearly all of the major casino-resorts are now open in Las Vegas. As many analysts predicted, however, tourism rates in this city are still significantly lower than they were at the start of the year. According to new reports, the Las Vegas Palazzo has decided to stop accepting weekday reservations due to the drop in occupancy.Las Vegas Palazzo

This goes to show how low visitation rates in this city still are. Some believe that more hotel-casinos will begin taking similar measures over the next few months. Today, we’re going to look at what this new decision means for the Palazzo and Venetian Casino-Resort.

Let’s get into it!

Tourism Rates in Las Vegas Remain Low

A city like Las Vegas, known as the gambling and entertainment capital of the United States, relies on tourism to function. That’s especially true on the Las Vegas Strip, where nearly every business is catered to tourists. In March of this year, this city completely shut down to visitors.

Things remained shut down for months. Casino owners were working hard to come up with reopening plans, yet state leaders remained hesitant to start lifting restrictions. Finally, the casinos here were given permission to start opening back up on June 4th.

Analysts were torn on how quickly tourism rates in the city would increase. Some felt that many would flock to the city, looking for an escape from the regulation in their own states. Others believed that visitation would remain significantly lower than it was prior to the shutdown in March.

The latter is proving to be true. Despite the best efforts from casino companies and city officials, tourism rates are much lower here than they were at the start of 2020. As rates of Covid-19 increase throughout the country, these tourism rates are dropping.

It hasn’t been easy for the casinos in Las Vegas. Gambling revenue was virtually non-existent in May. It’s unclear how much revenue these casinos earned during the month of June. We’ll hear more about this at the end of July.

New reports indicate that one of the top casino-resorts in this city is cutting down on its occupancy.

The Las Vegas Palazzo Announces it’s No Longer Taking Weekday Reservations

The Las Vegas Strip is home to some of the biggest and best casino-resorts in the world. Many believe that the Las Vegas Palazzo is one of the top venues for guests in the entire city. It’s a part of the larger complex that comprises the Venetian Casino-Resort, all of which are owned by Las Vegas Sands.

Before the shutdown in March, the Palazzo was one of the most popular hotels in Las Vegas. Unfortunately, occupancy here has remained low over the past few weeks. As a result, the owners of this venue have announced that they are stopping weekday reservations.

Las Vegas Sands spokesperson Keith Salwoski released a statement on this situation to the media this week.

“In response to travel demand for the summer we have made a slight adjustment to our hotel operation to better reflect occupancy patterns,” he said. 

This new rule will officially begin on July 21st. As of now, the plan is for only the Venetian to remain open Monday through Thursday. Las Vegas Sands will then open both the Venetian and the Las Vegas Palazzo on weekends.

The hotel here will remain closed on weekdays, yet the casino, restaurants, and parking garage at the Palazzo will remain open. We’ll need to wait and see how long it takes for this venue to open back up on weekends.

Are Some Casinos in Las Vegas in Danger of Closing?

As of now, it doesn’t seem likely that any of the casinos here will be forced to permanently shut down. We’re in unprecedented times, though, and anything is possible at this point. It’s clear that occupancy is still down considerably in this city.

The fact that the Las Vegas Palazzo has stopped taking weekday reservations says a lot. Las Vegas Sands would not make this decision unless it needed to. Some now believe that we’ll see more casinos take this approach over the next couple of months.

It’s still unclear how much gambling revenue is being earned in this city. The tough regulations set in place has taken a toll on tourism numbers here. The fact that masks are now required on the casino floor is also having an impact on visitation.

Much of the US casino industry is now opening back up. Earlier this month, Atlantic City began allowing its casinos to reopen. In fact, several states on the East Coast have recently started allowing their casino industries to resume operations.

It’s a very unusual time for this industry. Las Vegas casinos are now taking completely unique approaches to cut down on costs. We’ll need to wait and see how effective this is over the next few weeks.

Do you plan on visiting Las Vegas this summer? Which hotel will you stay at? Let us know in the comments section below!

The Venetian Offering Free Night Stay for Essential Workers

The Venetian Resort in Las VegasThe spirit of giving has been strong in The Venetian Las Vegas, even throughout the coronavirus shutdown that has crippled the Las Vegas economy. From the beginning of the month through May 14, the resort partnered with Catholic Charities to provide 1,000 boxed meals daily to the homeless throughout the valley.

The company also graciously continued to offer full pay and benefits to its 9,300 employees through May 17. Emergency pay for close to 1,200 employees spanning across 14 different Venetian restaurants was also covered.

And on April 1, the Venetian’s parent company, Las Vegas Sands Corp., donated two million pieces of personal protective equipment to Nevada and New York.

Now, the Venetian want to say thank you in its own way to local first responders and essential workers. Until the end of the year, the casino-hotel will be offering one free night stay to those have been on the front lines during the pandemic.

Those front-line workers who will be eligible to redeem the free night stay include those from the following sectors:

  • Agriculture, livestock & feed mills
  • Air transportation
  • Auto repair services & trucking service centers
  • Banks & financial institutions
  • Businesses or organizations providing food, shelter, or critical social services for disadvantaged populations
  • Educators, childcare centers and daycares
  • Essential stays in hotels, commercial lodging, dormitories, shelters, and homeless encampments
  • Fire services, law enforcement agencies, emergency medical services & public safety agencies
  • Food processing
  • Gas stations & truck stops
  • Grocery stores, supermarkets, hardware stores, convenience & discount stores
  • Healthcare services
  • Home maintenance/repair services
  • Laundromats & dry cleaners
  • Logistics & Supply Chain Operations: Warehousing, storage, distribution, and supply-chain related operations
  • Pharmacies, healthcare operations, & biomedical facilities
  • Post offices & shipping outlets
  • Public transportation
  • Public utilities
  • Trash collection
  • Veterinary services & pet stores

The Resort Will Start Accepting Reservations for June 1

While many casino operators were banking on a Memorial Day Weekend reopening, with the weekend quickly approaching, it’s highly unlikely casinos will be given the green light to reopen by week’s end.

Instead, The Venetian is anticipating a reopening date of June 1 and will start accepting reservations for that date on its official website soon. The company will reopen in phases, with the Venetian tower being the first to accept hotel reservations, with the Palazzo accepting reservations at a later date.

In the statement the company released announcing their decision to begin accepting reservations, they advised that they will continue to comply with guidance provided by federal, state, and local authorities which include the Southern Nevada Health District, Centers For Disease Control and Prevention and the Nevada Gaming Control Board.

Venetian Clean Initiative Will Ensure Guests Return to a Safe Property

The Venetian Clean commitment, which was released at the end of April, outlined the specific health and safety protocols the resort plans to implement upon reopening.

That initiative includes 800 separate initiatives that have been thoughtfully considered and chosen based on the level of safety it will provide to guests and staff members.

Some of those major protocols include the thermal screening of all casino entrants, including staff and guests, offering face masks for guests to wear, requiring employees to wear masks, and rearranging the casino floor to support social distancing.

Stay Tuned

It’s impressive to see just how generous The Venetian has been in serving others during these challenging times. The list of frontline workers that will be able to receive a complimentary night stay at the luxury resort is extensive, and we’re glad that these brave workers will be able to have a night to enjoy themselves, free of charge.

What do you think of Venetian’s free night stay offer? Are you a frontline worker in the Las Vegas valley who will take advantage of the offer?

Share with us below!

Here’s an Update on the Reopening of the LV Venetian

Las Vegas is home to some of the biggest and best casino-resorts in the world. That includes the Venetian Casino-Resort, located directly on the Strip. This week, officials within the Las Vegas Sands Corp. offered an exciting update on the reopening of the LV Venetian.Venetian and Palazzo Casinos in Las Vegas

Many believe this is the best casino in Nevada. Today, we’re going to discuss when the Venetian may allow guests to return. We’ll also look at what some of the other casino companies in Las Vegas have planned for the future.

Let’s get into it!

Las Vegas Casino Guidelines Have Been Approved

Things are very different in Las Vegas right now. They have been for months. Casinos remain shut down and the normally-bustling Strip is now essentially empty. People around the country have been discussing when the city can finally get back to some sense of normalcy.

That can’t be accomplished unless casinos reopen. This city is known as the gambling hub of the United States. Some of the world’s best gambling venues and hotels are located here and under normal circumstances, they make a killing.

All of the casinos in Nevada have been closed since March. It’s been devastating for this city that’s known to rely so heavily on its gambling and tourism industry. Fortunately, things may begin to change over the next few weeks.

Not long ago, Nevada’s Gaming Commission officially approved a set of guidelines to reopen the casinos here. This government body seems to feel that enough safety measures can be set in place to keep the public safe inside these gambling venues. Some are complaining that these guidelines have not been made public, though.

This approval was a big moment for the state and many of its residents. Reopening casinos is one of the most important ways to restart the state’s economy. This week, one of the biggest and most beloved casino-resorts in Las Vegas revealed it’s likely to open back up next month.

Officials Offer Exciting Update On the Reopening of the LV Venetian

Those who have been to Las Vegas have probably checked out The Venetian Casino-Resort. It was first constructed back in 1999 and is considered one of the best venues in the entire city. When included into the entire Venetian Resort Complex, it’s the second-largest hotel in the world.

The Venetian is owned and operated by Las Vegas Sands, one of the biggest and most profitable gaming companies in the United States. Like all other casino companies in Las Vegas, LVS is losing an incredible amount of money every day due to the current regulations. That may finally change next, though.

Today, this casino’s website revealed that it’s accepting reservations beginning on June 1st. A new company statement claims that the reopening of the LV Venetian will come in several stages. Fortunately, the casino floor is expected to open back up, as well as more than a dozen restaurants.

This casino-resort will be operating under the Venetian Clean guidelines. This is intended to minimize the risk to guests and staff. This casino also claims it will test all employees for Covid-19 in the weeks leading up to opening day.

Many are already getting excited. The reopening of the LV Venetian means that more major casino-resorts are set to do the same. Hope is that enough tourists begin flocking to the city to start turning things around.

Here’s what some of the other major Las Vegas casino-resorts have planned.

More LV Casino Companies Prepare for Reopening

Las Vegas Sands is just one of many companies currently suffering from the casino shutdown in Nevada. As time goes on, however, more of these companies are beginning to make plans for a major reopening. That’s especially true now that The Venetian plans to accept guests next month.

MGM Resorts is working to entice guests in a number of ways. News has just surfaced that the company will offer free parking upon reopening. Owners of the Cosmopolitan Hotel & Casino are taking the same approach.

Wynn Resorts has been working on reopening plans for weeks. It seems likely that thermal cameras will be installed inside the casino to detect those with a fever. There’s even a rumor that Las Vegas Sands is considering purchasing Wynn Resorts.

Things are stranger in Las Vegas right now than ever before. No one really knows how things will look even after the casinos open their doors to guests. Will Las Vegas stop being what it grew so popular for?

The reopening of the LV Venetian is now slated for June 1st. Nevada’s state leaders are likely to comment on this decision over the next few days.

Are you excited to see casinos open back up in Las Vegas? Will things be the same as they were before here? Let us know what you think in the comments section below.