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With sale of the Venetian, Las Vegas Sands exits the Strip

FILE - This Aug. 2, 2005 file photo shows the Venetian Hotel and Casino on the Las Vegas Strip....
FILE - This Aug. 2, 2005 file photo shows the Venetian Hotel and Casino on the Las Vegas Strip. Las Vegas Sands is selling the real estate and operations of its Venetian casino resort and Sands Expo and Convention Center to VICI Properties and Apollo Global Management in a deal worth $6.25 billion. (AP Photo/Joe Cavaretta, File)(Joe Cavaretta | AP)
Published: Mar. 3, 2021 at 2:01 PM PST
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(AP) - Las Vegas Sands is selling the iconic Venetian casino resort and its Sands Expo and Convention Center for $6.25 billion, withdrawing from gambling operations on the Las Vegas Strip after changing the nature of the casino business there and just about everywhere else.

The name of the Venetian, the expo center as well as the Palazzo, the Sands’ luxury casino and resort that is part of the same complex, will remain, and the company’s headquarters will stay in Las Vegas. But the company led by Sheldon Adelson until his death this year will effectively cease U.S. operations.

Under Adelson, the company’s focus turned to Asia years ago, where revenue eventually outpaced even the operations on the Las Vegas Strip.

Copyright 2021 The Associated Press. All rights reserved.