Last Updated on July 30, 2026 by Daniel Globe
The Venetian Resort Las Vegas is famous for its Italian-inspired architecture, all-suite accommodations, casinos, restaurants, shops, and gondola rides. Its ownership, however, is not as simple as naming one company. The resort has had a split ownership structure since Las Vegas Sands completed its sale in February 2022.
Quick Answer
The Venetian Resort Las Vegas has a split ownership structure. VICI Properties owns the land and real estate, while funds managed by Apollo affiliates own the resort’s operating companies. Las Vegas Sands announced the sale in March 2021, but the $6.25 billion transaction did not close until February 23, 2022.
Key Takeaways
- VICI Properties owns The Venetian Resort’s land and physical real estate.
- Funds managed by Apollo affiliates own the resort’s operating companies.
- Las Vegas Sands developed The Venetian and remained its owner until the sale closed on February 23, 2022.
- The approximately $6.25 billion deal included The Venetian, The Palazzo, and Venetian Expo.
- The resort is undergoing a $1.5 billion transformation that includes renovated suites, dining, gaming, and convention facilities.
Who Owns The Venetian Hotel Today?
The Venetian Resort Las Vegas is owned through two connected but legally distinct interests. VICI Properties, a real estate investment trust, owns the land and physical real estate. Funds managed by affiliates of Apollo Global Management own the companies that operate the resort and Venetian Expo.
Note: Saying that Apollo and VICI “own The Venetian” is broadly understandable, but it leaves out an important distinction. VICI is the landlord and real-estate owner, while the Apollo-managed business controls resort operations under a long-term lease.
| Real-estate owner | VICI Properties |
| Operating-company owner | Funds managed by Apollo affiliates |
| Previous owner and developer | Las Vegas Sands Corporation |
| Sale announced | March 3, 2021 |
| Sale completed | February 23, 2022 |
| Total transaction value | Approximately $6.25 billion |
The approximately $6.25 billion sale was divided into $4 billion for the land and real estate and about $2.25 billion for the resort’s operating companies.
The History of The Venetian Hotel
Las Vegas Sands developed The Venetian on the former site of the Sands Hotel and Casino. The resort opened on May 3, 1999, with an Italian-themed ceremony and a design inspired by Venice. It became the first major integrated resort developed by Las Vegas Sands and helped establish the company’s convention-focused resort model.
The original development combined an all-suite hotel, casino, restaurants, shopping, entertainment, and extensive meeting space. The design was personal to Las Vegas Sands founder Sheldon Adelson and Dr. Miriam Adelson, whose honeymoon in Venice helped inspire the concept.
The resort expanded over time. The Venezia tower opened in 2003, and The Palazzo joined the complex in 2007. Together with Venetian Expo, the properties became one of the largest connected hotel, gaming, and convention destinations on the Las Vegas Strip.
Ownership Timeline
- 1999: The Venetian opened under Las Vegas Sands ownership.
- 2003: The Venezia tower expanded the resort.
- 2007: The Palazzo opened alongside The Venetian.
- March 3, 2021: Las Vegas Sands announced an agreement to sell its Las Vegas properties.
- February 23, 2022: The sale to VICI Properties and Apollo-managed funds closed.
- May 2024: The Venetian Resort announced a $1.5 billion transformation.
- 2026: Work continues on The Palazzo suites, luxury gaming areas, and the Venetian Convention and Expo Center.
What Was Included in the 2022 Sale?
The transaction covered more than a single hotel tower. Las Vegas Sands sold The Venetian Resort Las Vegas, including The Venetian, The Palazzo, and the Venetian Expo operating business and real estate.
VICI Properties paid approximately $4 billion for the land and real-estate assets. Apollo-managed funds paid approximately $2.25 billion for the operating companies. The two parts closed together on February 23, 2022.
Las Vegas Sands used the sale to exit the Las Vegas resort market and concentrate its operating portfolio in Asia. It continues to operate integrated resorts in Macao and Singapore, but it no longer owns or operates The Venetian Resort Las Vegas.
The Architecture and Design of The Venetian Hotel
The Venetian was designed as a tribute to Venice rather than as a copy of one individual building. Its exterior and interior spaces draw on well-known Venetian landmarks, materials, colors, and artistic traditions.
Recognizable features include an interpretation of St. Mark’s Campanile, the Rialto Bridge, a recreation of the Doge’s Palace façade, painted ceilings, stone columns, marble surfaces, and indoor and outdoor canals. Gondolas travel along the waterways while gondoliers guide visitors beneath bridges and past Italian-inspired storefronts.
The resort’s interior continues the theme with large frescoes, chandeliers, sculptures, arches, and piazza-like public spaces. Guest suites use Italian-inspired details but provide modern hotel layouts, including separate living areas in many standard categories.
The Entertainment and Dining Options at The Venetian Hotel
| Restaurants | More than 40 options across the resort |
| Cuisine | Italian, American, French, Asian, Mediterranean, Mexican, seafood, steakhouses, and quick-service dining |
| Major venues | The Venetian Theatre, The Palazzo Theatre, Voltaire, and direct resort access to Sphere |
| Nightlife | Lounges, cocktail bars, TAO Nightclub, TAO Beach, and ticketed entertainment |
The Venetian Resort hosts concerts, comedy, magic, theatrical productions, nightlife, and special events. Because performers and residencies change regularly, travelers should review the resort’s official entertainment calendar before booking around a particular show.
Sphere at The Venetian opened in 2023 and is directly connected to the resort. The property also operates traditional theaters and smaller entertainment spaces, allowing it to host events ranging from touring musicals and comedians to resident performers and intimate productions.
Dining is one of the resort’s largest attractions. The official directory lists more than 40 restaurants, from quick meals to chef-led fine dining. Long-running choices include Delmonico Steakhouse by Emeril Lagasse and Bouchon by Thomas Keller. Other restaurants and food-hall concepts may open, close, or move as the resort’s redevelopment continues.
Pro Tip: Reserve popular restaurants and ticketed shows before your trip. Same-day availability can be limited during conventions, holidays, and major events.
The Luxury Accommodations at The Venetian Hotel
The Venetian Resort contains more than 7,000 suites across The Venetian and The Palazzo. Standard suites are larger than typical hotel rooms and generally include a sleeping area, a separate sunken living space, and an oversized bathroom. Exact layouts, views, bedding, and amenities depend on the tower and suite category.
The Venetian’s approximately 4,000 tower suites were redesigned as part of the resort’s $1.5 billion transformation. The updated interiors use a more contemporary version of the property’s Italian theme, drawing inspiration from the colors and details of Venetian Carnival costumes.
The Palazzo offers a different interpretation of Italian luxury, with a design influenced by Milan. In June 2026, the resort announced Milano, an exclusive collection of 275 Palazzo suites. Larger signature suites, club-level services, and specialty accommodations are also available, but features should be confirmed on the official booking page because inventory and room descriptions can change.
The Shopping Experience at The Venetian Hotel
The Grand Canal Shoppes form the resort’s main shopping district. The 875,000-square-foot complex features approximately 160 signature stores, restaurants, and attractions along cobblestone-style walkways and a quarter-mile indoor canal.
The tenant mix includes luxury brands, mainstream retailers, specialty boutiques, beauty stores, souvenir shops, and dining venues. The painted sky ceilings and canals make the shopping area an attraction even for visitors who do not plan to buy anything.
Stores and restaurant tenants can change, so travelers looking for a particular brand should check the current Grand Canal Shoppes directory before visiting.
The Casino and Gaming Options at The Venetian Hotel
The Venetian Resort has casino floors at both The Venetian and The Palazzo. Current resort information lists more than 2,000 slot machines and more than 250 table games, including blackjack, baccarat, roulette, craps, and poker-based games. A separate high-limit gaming lounge is available at The Palazzo.
The resort’s poker room is located on level two of the Grand Canal Shoppes near The Palazzo. It has 50 tables across approximately 14,000 square feet and hosts cash games, daily events, and larger DeepStack tournament series.
Venetian Rewards is the resort’s current loyalty program. It replaced Grazie Rewards on March 1, 2024. Members can earn points through eligible gaming and participating resort spending, including hotel stays, dining, entertainment, retail, and spa purchases. Earning rates, participating businesses, expiration rules, and benefits are subject to program terms.
Warning: Nevada law restricts casino gambling to people age 21 or older. Set a budget, never gamble with money needed for essential expenses, and use the resort’s responsible-gaming resources if gambling stops being recreational.
The Sustainability Efforts of The Venetian Resort
Las Vegas Sands established environmental programs while it owned The Venetian, but the resort’s current sustainability work should not be presented as a Las Vegas Sands operation. The Venetian Resort now describes its strategy through four areas: responsible operations, green meetings and events, green buildings, and engagement with employees and outside partners.
Current initiatives focus on conserving natural resources, reducing waste, recycling and reusing materials, improving sustainable purchasing, and incorporating environmental considerations into renovations. The resort also offers sustainability options for meetings and conventions.
The property’s large renovation program has created an opportunity to reuse and recycle construction materials while modernizing suites, public areas, gaming facilities, restaurants, and meeting spaces. Individual environmental claims can change as projects progress, so readers should consult the resort’s current corporate responsibility information for its latest measurements.
The Community Impact of The Venetian Resort
Community support also continued after the ownership change. The Venetian Resort’s current corporate responsibility program emphasizes charitable giving, volunteer work, in-kind assistance, and partnerships with nonprofit organizations.
Its stated areas of focus include hunger and homelessness, education and development, environmental causes, veteran support, and emergency or community resilience. Team members participate in food drives, neighborhood projects, donation campaigns, and other volunteer events.
This current work is separate from Sands Cares, the program operated by Las Vegas Sands. Sands Cares is part of the property’s historical community legacy, but The Venetian Resort’s present initiatives should be credited to the current resort organization.
Current Renovations and Future Developments
The claim that no renovations have been announced is no longer accurate. In May 2024, The Venetian Resort announced a $1.5 billion transformation covering accommodations, restaurants, gaming, entertainment, branding, and convention facilities.
A central part of the project was the redesign of all 4,000 suites in The Venetian towers. By late 2025, the resort reported that this work had been completed. Its next phase includes Palazzo suite upgrades, new luxury gaming areas, and additional dining and hospitality concepts.
The Venetian Convention and Expo Center is also undergoing a separate $188 million renovation. Work has been completed in stages and is scheduled to continue through 2026. Announced additions include redesigned meeting floors and Lusso Lounge, a 10,000-square-foot executive and collaboration space planned for the fourth quarter of 2026.
The Palazzo’s Milano collection, announced in June 2026, adds 275 high-end suites influenced by Milanese design. These projects show that Apollo-managed ownership has pursued a broad reinvestment strategy rather than simply maintaining the resort as it existed at the time of the sale.
The Legacy of Las Vegas Sands Corporation and The Venetian Hotel
Las Vegas Sands deserves credit for developing The Venetian and shaping its original integrated-resort model. The property combined a large all-suite hotel with gaming, convention space, shopping, dining, and entertainment in a format that Las Vegas Sands later used in Macao and Singapore.
That historical role does not make Sands the current owner. Since February 23, 2022, VICI Properties has owned the resort’s land and real estate, while Apollo-managed funds have owned the operating companies.
The resort’s identity still reflects its Las Vegas Sands origins, especially in its Venice-inspired architecture and convention-focused design. Its current owners and management are now responsible for its operations, reinvestment, guest experience, sustainability work, and future development.
Travelers staying at The Venetian may also want practical gear for exploring Las Vegas. These guides cover travel pants with hidden pockets, hardside carry-on luggage with spinner wheels, and hard-case golf travel bags.
Frequently Asked Questions
Who currently owns The Venetian Hotel?
VICI Properties owns The Venetian Resort’s land and real estate. Funds managed by Apollo affiliates own the companies that operate The Venetian, The Palazzo, and Venetian Expo.
Does Apollo or VICI operate The Venetian?
The resort’s operating companies are owned by Apollo-managed funds. VICI owns the underlying land and physical real estate and leases those assets to the operator.
When did Apollo and VICI acquire The Venetian?
Las Vegas Sands announced the sale agreement on March 3, 2021. The acquisition closed on February 23, 2022, after the required transaction and regulatory steps were completed.
How much did The Venetian Resort sell for?
The combined transaction was valued at approximately $6.25 billion. VICI paid about $4 billion for the land and real estate, while Apollo-managed funds paid approximately $2.25 billion for the operating companies.
Who previously owned The Venetian Hotel?
Las Vegas Sands Corporation developed The Venetian and owned it from its 1999 opening until the sale closed in February 2022.
Does Las Vegas Sands still have an ownership interest in The Venetian?
No. Las Vegas Sands completed the sale of The Venetian Resort, The Palazzo, and Venetian Expo in 2022 and no longer owns or operates the Las Vegas resort.
What is The Venetian Hotel known for?
The Venetian is known for its all-suite accommodations, Venice-inspired architecture, indoor and outdoor gondola rides, Grand Canal Shoppes, casinos, restaurants, convention facilities, and direct connection to Sphere.
Are changes or renovations underway under the new ownership?
Yes. The resort announced a $1.5 billion transformation in 2024. Projects include 4,000 renovated Venetian tower suites, Palazzo suite upgrades, new restaurants and gaming spaces, and a $188 million Convention Center renovation continuing through 2026.
Sources
- Apollo Global Management acquisition release — confirms Apollo Funds’ purchase of the operating companies and the February 23, 2022 closing.
- VICI Properties acquisition announcement — confirms VICI’s $4 billion real-estate acquisition.
- Las Vegas Sands sale completion release — confirms the approximately $6.25 billion sale and the properties included.
- The Venetian Resort history — supports the resort’s 1999 opening, inspiration, design, and development history.
- The Venetian’s $1.5 billion transformation announcement — supports the suite renovations and resort-wide redevelopment.
- The Venetian Resort corporate responsibility program — supports the current sustainability and community initiatives.