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Sands Corporation: Leaving Las Vegas

It’s been less that two months since the Sands Corporation lost their leader, Sheldon Adelson. And now the company has made a major announcement about their future in Nevada: There is none!

A deal has been reached which will allow Apollo Global Management and Vici Properties to buy the Sands Las Vegas properties for $6.25 billion. When completed, the Sands will no longer have a presence in Sin City… or Nevada, for that matter.

The Las Vegas Sands Corporation will subsequently change it’s name to simply “Sands” as a result.

Sands CEO Robert Goldstein said “The Venetian changed the face of future casino development and cemented Sheldon Adelson’s legacy as one of the most influential people in the history of the gaming and hospitality industry…”

Shares of the “Sands” jumped 3% with the news. You can read more about the changes to the Sands Corporation at CNN.

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