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Las Vegas Sands will sell its Las Vegas real estate and business to Apollo, VICI Properties for $ 6.25 billion.

Stock of Las Vegas Sands Corporation.
LVS,
+ 3.01%

Wednesday’s pre-market transaction rose 3.0% after casino operators announced an agreement to sell Las Vegas real estate and businesses to Apollo Global Management for $ 6.25 billion
APO,
-0.89%

And VICI Properties Inc.
VICI,
-1.35%

VICI’s share price fell 1.0%, but Apollo’s share price was still inactive before the opening. Under the terms of the agreement, Apollo will purchase a Venetian operator for $ 2.25 billion, including the Venetian Resort and Sands Expo and Convention Center, and VICI will purchase Venetian land and real estate assets for $ 4 billion. Las Vegas Sands said Asia remains the company’s “backbone” and development opportunities in Macau and Singapore are the focus of the company’s attention. Patrick Dumont, Chief Operating Officer, said: “The long-standing strategy of reinvesting in Asian businesses and returning capital to shareholders will be strengthened through this transaction.” Furthermore, as the industry continues to evolve, especially in relation to the digital market, we can do so. We are committed to the quest for sex. Over the last 12 months, Las Vegas Sands stocks have risen 16.2%, Apollo stocks have risen 16.6% and VICI S & P 500 has risen 15.2%.
SPX,
-0.81%

It has increased by 28.9%.

Las Vegas Sands will sell its Las Vegas real estate and business to Apollo, VICI Properties for $ 6.25 billion.

Source link Las Vegas Sands will sell its Las Vegas real estate and business to Apollo, VICI Properties for $ 6.25 billion.

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