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Two Real Estate Investment Trusts Express Interest in Purchasing Las Vegas Sands

Sheldon Adelson says he’s willing to sell the Venetian, Palazzo, and Sands Expo Convention Center for $6 billion

The exterior of a casino
The Venetian
Leinani Shak Photography

THE STRIP — Last week, Bloomberg News reported that Las Vegas Sands CEO Sheldon Adelson may explore selling the Venetian, Palazzo, and Sands Expo Convention Center, and now some of the biggest real estate investment trusts are signally they might be interested in purchasing the trio with an asking price of $6 billion. Potential buyers include MGM Growth Properties LLC, which owns casinos operated by MGM Resorts International. James Stewart, MGM Growth’s chief executive officer, told investors on a conference call Monday that if it could find an operator, the real estate investor would be interested in snatching up the properties, Bloomberg reports. Vici Properties, a spin-off from Caesars Entertainment Corp. that owns 31 casinos, hotels, and racetracks across the country, also expressed interest in purchasing Las Vegas Sands last week. [Bloomberg]

ARIA — The Nevada Occupational Safety and Health Administration slapped the resort with a $12,617 penalty for a “lack of social distancing at point-of-sale terminals used by employees,” the Las Vegas Review-Journal reports. MGM Resorts spokesman Brian Ahern tells the newspaper the parent company MGM Resorts will contest the penalty, saying MGM “does not believe it has violated any safety laws.” [LVRJ]

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The Palazzo

3325 South Las Vegas Boulevard, , NV 89109 (702) 607-7777 Visit Website

The Venetian

3355 South Las Vegas Boulevard, , NV 89109 (702) 414-1000 Visit Website

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