VICI Properties, Apollo funds buy Las Vegas assets

Las Vegas Sands has struck a deal with VICI Properties and funds tied to Apollo Global Management to sell its Las Vegas assets, including the Venetian Resort Las Vegas and the Sands Expo and Convention Center, for about $6.25 billion. VICI will buy subsidiaries that hold the Venetian’s real estate for about $4 billion, while the Apollo funds will purchase the operating assets and enter into a triple net lease agreement with VICI.