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Leon Black and Apollo's Pursuit of Sands Corp
Apollo Global Management (along with VICI Properties) struck a massive deal to acquire The Venetian Resort, Palazzo, and Sands Expo from Las Vegas Sands for about $6.25 billion. The deal split the real estate and operations: VICI bought the land and real estate assets (~$4 billion), while Apollo acquired the operating company. Apollo is responsible for running day-to-day operations including hotel rooms, casinos, dining, entertainment, and conventions. Seller financing and favorable lease terms with VICI were part of the structure, making it a complex transaction with shared…
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