Last Updated on July 30, 2026 by Daniel Globe
The name Sheldon Adelson is still closely linked with The Venetian in Las Vegas because he developed the resort through Las Vegas Sands. However, he and Las Vegas Sands are no longer the current owners. Today, ownership is split between a real estate owner and a separate operating company.
Quick Answer
VICI Properties owns The Venetian Resort Las Vegas’s land and real estate. Funds managed by affiliates of Apollo Global Management own the resort’s operating company and lease the property from VICI. Las Vegas Sands, the company founded by Sheldon Adelson, sold both parts of the resort in a transaction completed in February 2022.
Key Takeaways
- Real estate owner: VICI Properties owns the land and buildings.
- Operating owner: Funds managed by Apollo affiliates own the hotel, casino, and convention operations.
- Former owner: Las Vegas Sands developed and operated the resort under Sheldon Adelson but exited the property in 2022.
- Total transaction: The sale was valued at $6.25 billion—$4 billion for the real estate and about $2.25 billion for the operating business.
- Current resort: The complex includes The Venetian, The Palazzo, the Venezia tower, casinos, restaurants, entertainment venues, and The Venetian Convention & Expo Center.
Who Owns The Venetian Hotel Las Vegas Today?
The Venetian Resort Las Vegas has a split ownership structure. VICI Properties, a real estate investment trust, owns the resort’s land and physical real estate. Funds managed by affiliates of Apollo Global Management own the operating business.
In practical terms, the Apollo-owned operating company runs the hotel, casinos, restaurants, entertainment, and convention operations under a long-term lease from VICI. This arrangement is common in the modern casino industry because it separates ownership of the buildings from ownership of the business operating inside them.
| Ownership Role | Entity | What It Owns or Controls |
|---|---|---|
| Real estate owner | VICI Properties | The land and resort real estate |
| Operating owner | Funds managed by Apollo affiliates | The hotel, casino, and convention operating companies |
| Former developer and owner | Las Vegas Sands | Developed The Venetian and owned it until the 2022 sale |
Note: Saying “VICI owns The Venetian” is correct when referring to the real estate. Saying “Apollo owns The Venetian’s operations” is also correct. The most precise answer names both companies and explains their separate roles.
The 2022 transaction valued The Venetian’s real estate and operating business at a combined $6.25 billion.
The History of The Venetian Hotel Las Vegas
Sheldon Adelson was born on August 4, 1933, in Boston, Massachusetts. Before entering the casino industry, he pursued several businesses, including vending-machine ventures and trade shows. His best-known trade-show success was COMDEX, which helped him build the capital and experience needed for much larger projects.
Adelson and his partners acquired the Sands Hotel in 1989 and built the company that became Las Vegas Sands. The old Sands was later demolished to make room for The Venetian. According to the resort’s official history, The Venetian was completed in 1999 as a tribute to Venice, Italy, where Sheldon and Dr. Miriam Adelson had honeymooned.
The resort opened in May 1999 after an investment widely reported at about $1.5 billion. Its Venice-inspired design included canals, gondolas, replicas of famous landmarks, Baroque-inspired murals, marble finishes, and extensive meeting space. It also opened as an all-suite resort, helping establish the large-suite and convention-focused model that became central to its identity.
The property expanded over time with the Venezia tower and The Palazzo. Las Vegas Sands continued to own and operate the complex until the sale to VICI and Apollo-managed funds closed on February 23, 2022.
The Luxurious Accommodations at The Venetian Resort Las Vegas
The Venetian Resort is an all-suite property with about 7,100 suites across its resort towers. Standard suites generally start at 650 to 750 square feet and include a separate living area, a sleeping area, and an Italian-marble bathroom with a Roman tub and separate shower.
Larger premium, grand, executive, and specialty suites provide more space and added features. The resort’s current suite collection lists larger accommodations ranging from roughly 940 to more than 3,200 square feet, while select Presidential Suites reach about 5,200 square feet. Chairman and other specialty categories may vary by tower and renovation status.
Standard suites do not automatically include every premium service. Butler service, VIP check-in, airport transfers, and club-lounge access are associated with select high-end suites or paid upgrades. Guests should also verify the exact view and layout before booking rather than assuming that a suite includes a private balcony.
Pro Tip: Compare The Venetian and The Palazzo tower locations before booking. Both are part of the same resort, but one may be more convenient for your preferred casino, restaurant, convention hall, or Sphere event.
Dining Options at The Venetian Resort Las Vegas
The Venetian Resort has a large collection of restaurants, bars, lounges, and quick-service venues. The lineup changes over time, so the resort’s official dining directory is the best source for current openings, menus, and hours.
| Restaurant | Cuisine | Known For | Official Price Level |
|---|---|---|---|
| Bouchon | French | Thomas Keller’s elevated bistro classics | $$$ |
| CUT by Wolfgang Puck | Steakhouse | Premium steaks and fine dining | $$$$ |
| Yardbird | Southern American | Fried chicken, waffles, and bourbon | $$ |
| Matteo’s Ristorante Italiano | Northern Italian | Fresh pasta and regional Italian dishes | $$ |
| Delmonico Steakhouse | American steakhouse | Emeril Lagasse’s steaks and Creole influence | $$$ |
| Mott 32 | Chinese | Modern dishes inspired by Hong Kong and regional Chinese cuisine | $$$ |
Bouchon, CUT, Yardbird, Matteo’s, Delmonico, and Mott 32 are among the resort’s current well-known choices. Earlier venues such as Carnevino contributed to The Venetian’s dining reputation but should not be treated as current restaurants. Likewise, CHICA does not appear in the resort’s current official dining lineup.
Prices, chefs, menus, and operating hours can change. Reservations are wise for popular dinner periods, weekends, and major convention dates.
Entertainment and Nightlife at The Venetian Resort Las Vegas
The resort remains a major entertainment destination, but individual productions change frequently. Current venues include The Venetian Theatre, The Palazzo Theatre, Voltaire, TAO Nightclub, TAO Beach, and the nearby Sphere at The Venetian. The official entertainment calendar lists active shows, residencies, touring productions, and event dates.
The Venetian previously hosted long-running productions such as Phantom—The Las Vegas Spectacular, but it is not a current show. Nightlife descriptions also need care: LAVO now operates as an Italian restaurant and party-brunch venue, while TAO is the resort’s established nightclub.
Guests seeking a quieter evening can choose from cocktail lounges, restaurant bars, and live-performance spaces throughout The Venetian and The Palazzo.
The Gaming Experience at The Venetian Resort Las Vegas
The Venetian casino floor is approximately 120,000 square feet. Together, The Venetian and The Palazzo casinos provide about 205,000 square feet of gaming space, with slot machines, table games, high-limit areas, and a poker room.
The casino serves both casual players and experienced gamblers. High-limit rooms offer a more private setting and personalized service, while the poker room hosts cash games and changing promotions. Tournament schedules and game availability should be checked directly with the resort.
Warning: Casino gambling is for adults age 21 and older in Nevada. Set a firm budget, never chase losses, and treat gambling as paid entertainment. The Nevada Gaming Control Board lists confidential problem-gambling resources, including 1-800-GAMBLER.
The Venetian Resort Las Vegas as an Event Venue
The Venetian Convention & Expo Center is one of the resort’s defining features. The current facility offers a combined total of about 2.25 million square feet of meeting and convention space, not the 1.2 million square feet often quoted in older descriptions.
Its spaces include expo halls, large ballrooms, meeting rooms, hospitality suites, and event-support areas. The complex can host trade shows, corporate meetings, conferences, weddings, and private events of many sizes. On-site guest suites, dining, entertainment, and shopping make it possible for attendees to remain within the resort complex for much of an event.
Event planners can arrange catering, audiovisual services, signage, business-center support, and room blocks through the resort’s convention team.
Sheldon Adelson’s Impact on The Venetian Resort
Sheldon Adelson’s most lasting influence was the integrated-resort model that combined hotel suites, casino gaming, conventions, dining, shopping, and entertainment in one large destination. His convention-first strategy was especially important because it brought business travelers to Las Vegas during weekdays, when leisure demand could be lower.
Adelson also emphasized a strong visual theme. The canals, gondolas, architecture, murals, and public spaces were designed to create an immersive interpretation of Venice rather than a standard hotel-casino.
Although he no longer has an ownership role—Adelson died in January 2021, and Las Vegas Sands sold the property in 2022—his development strategy remains central to The Venetian’s identity.
Philanthropy Connected to Sheldon Adelson and The Venetian
Sheldon and Dr. Miriam Adelson supported philanthropic causes through family foundations, including Jewish and Israel-related initiatives and medical research. Those activities should be distinguished from the resort’s current corporate responsibility program because the resort now operates under different ownership.
Today, The Venetian’s corporate social responsibility program focuses on community partnerships, employee volunteerism, charitable giving, inclusion, and sustainability. The resort also supports military members and veterans through dedicated offers and rewards benefits.
The Venetian After Sheldon Adelson and the 2022 Sale
The resort’s future is no longer directed by Sheldon Adelson or Las Vegas Sands. Since the 2022 transaction, VICI has remained the real estate owner, while Apollo-managed funds have controlled the operating business.
The operating company has continued investing in guest suites, restaurants, entertainment, gaming areas, and convention facilities. That strategy preserves the resort’s established luxury and convention identity while updating the property for current travelers.
Ownership could change again in the future, as with any major commercial property. For the current structure, the most reliable sources are VICI’s property portfolio, Apollo’s investor announcements, and The Venetian Resort’s official website.
Visiting The Venetian Resort Las Vegas: What You Need to Know
The Venetian Resort sits at 3355 Las Vegas Boulevard South on the Las Vegas Strip. Its central location provides convenient access to nearby resorts, shopping, entertainment, and attractions. Inside the complex, guests can visit the Grand Canal Shoppes, ride a gondola, dine at dozens of venues, attend a show, use the casinos, or walk to connected convention facilities.
When comparing rooms, check whether the suite is in The Venetian or The Palazzo and note the distance to the places you plan to visit. The resort is very large, so walking times can be longer than expected. Guests attending a convention or Sphere event may benefit from choosing the tower closest to that venue.
Book popular restaurants and shows in advance, especially on weekends and during large conventions. Review the full nightly price rather than only the advertised room rate because taxes, resort fees, parking charges, and optional upgrades can affect the total cost.
Note: The official brand name is The Venetian Resort Las Vegas. “The Venetian Hotel Las Vegas” is a common search phrase, but the resort includes more than a single hotel tower.
Frequently Asked Questions
Who owns The Venetian Hotel Las Vegas?
VICI Properties owns the land and real estate. Funds managed by affiliates of Apollo Global Management own the operating company that runs the hotel, casino, and convention business.
Does Las Vegas Sands still own The Venetian?
No. Las Vegas Sands sold the resort’s operating business to Apollo-managed funds and the real estate to VICI Properties. The transaction closed on February 23, 2022.
Did Sheldon Adelson own The Venetian?
Yes, historically. Adelson developed The Venetian through Las Vegas Sands and led the company while it owned the property. He died in January 2021, before the 2022 sale was completed.
When was The Venetian Las Vegas built?
The Venetian was completed and opened in 1999. Later additions, including the Venezia tower and The Palazzo, expanded the resort complex.
How many rooms does The Venetian Resort Las Vegas have?
The full resort has about 7,100 suites across The Venetian, The Palazzo, and the Venezia tower. Counts can differ when a source refers only to one tower instead of the complete resort.
What amenities does The Venetian Resort offer?
Major amenities include all-suite accommodations, casinos, pools, restaurants, bars, nightlife, theatres, gondola rides, shopping, a spa and fitness center, and extensive meeting and convention facilities.
Is The Palazzo part of The Venetian Resort?
Yes. The Palazzo is one of the resort’s all-suite towers and shares many amenities with The Venetian, including casinos, restaurants, shopping, entertainment, and convention access.
Is Apollo the owner of The Venetian’s buildings?
No. VICI Properties owns the buildings and land. Apollo-managed funds own the operating business, which leases and runs the resort.
Sources
- VICI Properties: The Venetian Resort Las Vegas — current real estate ownership and resort composition.
- Apollo: Completion of The Venetian acquisition — operating-company purchase and February 2022 closing.
- The Venetian Resort Story — resort history, design inspiration, and 1999 completion.
- The Venetian Resort Suite Collection — current suite sizes, layouts, and amenities.
- The Venetian Convention & Expo Center FAQs — current meeting and convention space.
- Nevada Gaming Control Board: Problem Gambling — responsible-gambling assistance and helpline information.