Last Updated on July 25, 2026 by Daniel Globe
The Venetian Resort Las Vegas is one of the best-known luxury resorts on the Las Vegas Strip, but its ownership is often misunderstood. Sheldon Adelson and Las Vegas Sands built The Venetian and shaped its early success, yet neither Adelson nor Las Vegas Sands is the current owner. A 2022 sale created the split ownership structure that remains relevant today.
Quick Answer
Today, The Venetian Resort Las Vegas has a split ownership structure. VICI Properties owns the land and real estate, while an affiliate of funds managed by Apollo Global Management owns the operating business and leases the property. Las Vegas Sands sold the resort in February 2022, so it no longer owns The Venetian.
Key Takeaways
- VICI Properties owns The Venetian’s land and real estate.
- Funds managed by Apollo affiliates acquired the resort’s operating company and operate the business under a long-term lease with VICI.
- Las Vegas Sands completed the approximately $6.25 billion sale on February 23, 2022.
- Sheldon Adelson was the founder of Las Vegas Sands and the visionary behind The Venetian, but he died in January 2021 and is not the current owner.
- The Venetian participates in World of Hyatt, but Hyatt does not own or brand the resort.
Who Owns The Venetian Hotel Today?
The most accurate answer requires separating ownership of the physical property from ownership of the resort’s operating business.
| Part of the business | Company | Role |
| Land and real estate | VICI Properties Inc. | Owns the associated land and real-estate assets. |
| Resort operating business | Affiliate of Apollo-managed funds | Acquired the operating assets and runs the resort business as VICI’s tenant. |
| Former owner and developer | Las Vegas Sands Corp. | Developed The Venetian and owned it until the February 2022 sale. |
Las Vegas Sands confirmed that it completed the approximately $6.25 billion sale of The Venetian Resort, The Palazzo and the Venetian Expo assets on February 23, 2022. Under the transaction, VICI Properties acquired the associated real estate for approximately $4 billion, while Apollo-managed funds acquired the operating business for approximately $2.25 billion.
Apollo’s transaction announcement also confirms that its managed funds acquired the resort’s operating companies and entered into a long-term lease with VICI.
Note: This is why different sources may name either VICI or Apollo when discussing who owns The Venetian. VICI owns the physical real estate, while an Apollo-managed affiliate controls the operating company that runs the resort business.
Does Las Vegas Sands Still Own The Venetian?
No. Las Vegas Sands no longer owns The Venetian Resort Las Vegas. Its sale of the Las Vegas property closed on February 23, 2022.
Las Vegas Sands remains an important part of the resort’s history because it developed The Venetian and operated the property for more than two decades. However, current ownership information should not describe Las Vegas Sands as the resort’s owner.
The February 2022 transaction separated The Venetian’s real estate from its operating business: VICI acquired the property assets while Apollo-managed funds acquired the resort operations.
Sheldon Adelson’s Historical Role
Sheldon Adelson was the founder and longtime leader of Las Vegas Sands and the businessman most closely associated with the creation of The Venetian. He was not, however, the resort’s current owner at the time of the 2022 sale. Adelson died on January 11, 2021, at age 87.
According to Las Vegas Sands’ company history, Adelson and his partners bought the existing Sands Hotel in 1989. The Sands Hotel was later demolished in 1996 to clear the site for the Venice-inspired resort that became The Venetian.
Adelson’s concept went beyond building another casino hotel. He promoted an integrated-resort model that combined hotel suites, gaming, restaurants, shopping, entertainment, and large-scale convention facilities in one destination.
When Did The Venetian Open?
The Venetian opened on May 3, 1999. Las Vegas Sands’ historical account describes an opening celebration with singing gondoliers and Venetian-inspired fanfare.
The resort was designed as a tribute to Venice, Italy. Its architectural references include canals, gondolas, Italian-style plazas, frescoes, marble details, and reproductions inspired by famous Venetian landmarks. The resort’s own history of The Venetian says artists, architects, and other specialists studied Venice while developing the property.
The Palazzo later opened in 2007 and became part of the larger resort complex. Together, The Venetian and The Palazzo provide thousands of suites along with gaming, shopping, restaurants, entertainment, spa facilities, and extensive convention space.
What Was Included in the 2022 Venetian Sale?
The sale was much broader than a transfer of a single hotel tower. Las Vegas Sands described the transaction as involving The Venetian Resort Las Vegas, including The Venetian, The Palazzo, and the resort’s convention operations.
| Transaction component | Buyer | Approximate value |
| Land and real-estate assets | VICI Properties | $4.0 billion |
| Operating business | Apollo-managed funds | $2.25 billion |
| Total transaction | Combined | Approximately $6.25 billion |
VICI’s more recent financial reporting continues to list The Venetian Resort Las Vegas lease with an affiliate of Apollo-managed funds as the tenant. The initial lease term is 30 years with two 10-year renewal options, showing that the landlord-and-operator structure was designed as a long-term arrangement.
Ownership Timeline
- 1989: Sheldon Adelson and his partners purchase the Sands Hotel in Las Vegas.
- 1996: The old Sands Hotel is demolished to make way for The Venetian.
- May 3, 1999: The Venetian opens.
- 2007: The Palazzo opens next to The Venetian.
- January 11, 2021: Sheldon Adelson dies at age 87.
- March 2021: Las Vegas Sands announces an agreement to sell its Las Vegas resort assets.
- February 23, 2022: The approximately $6.25 billion transaction closes. VICI acquires the real estate, and Apollo-managed funds acquire the operating business.
- 2024: The Venetian announces a $1.5 billion resort reinvestment program.
- January 9, 2025: The Venetian and The Palazzo begin participating in World of Hyatt.
- 2026: The VICI/Apollo lease structure remains in place while the resort continues major redevelopment projects.
The Venetian’s Business Model and Hospitality Impact
Sheldon Adelson and Las Vegas Sands helped popularize the convention-focused integrated-resort model in Las Vegas. Instead of relying primarily on casino gaming, the model combined lodging, meetings, restaurants, entertainment, retail, and gaming in one large complex.
The Venetian became especially important to the meetings and convention market because guests could stay, dine, shop, attend events, and use convention facilities without leaving the resort complex.
The resort also became known for its Venice-inspired attractions. The Grand Canal area, indoor and outdoor gondola experiences, elaborate public spaces, and large all-suite hotels helped distinguish The Venetian from more traditional casino resorts.
Las Vegas Sands later expanded its integrated-resort strategy internationally. Sands Macao opened in 2004, The Venetian Macao followed in 2007, and Marina Bay Sands opened in Singapore in 2010. These properties are part of Adelson’s broader business legacy, but they should not be confused with the current ownership of The Venetian in Las Vegas.
Sheldon Adelson’s Philanthropic Legacy
Adelson was also involved in large-scale philanthropy with his wife, Dr. Miriam Adelson. The Adelson Family Foundation says it was established by the couple and primarily supports programs benefiting Israel and the Jewish people.
The family also established the Dr. Miriam and Sheldon G. Adelson Foundation for Medical Research, which has supported collaborative work in fields including neurology, immunology, and oncology. These activities are part of Adelson’s personal legacy, rather than part of The Venetian’s present ownership structure.
Who Runs The Venetian Now?
The operating side of the resort is associated with the business acquired by Apollo-managed funds in 2022. The Venetian’s current website terms identify Venetian Las Vegas Gaming, LLC as the company operating the site’s services.
Apollo has continued to describe The Venetian as an investment of Apollo-managed funds. In 2025 and 2026 materials, Apollo highlighted the resort’s ongoing transformation and management initiatives, providing further evidence that the 2022 operating-company structure remains relevant.
Pro Tip: When checking casino-resort ownership, look separately for the real-estate owner and the operating company. Many major Las Vegas resorts use lease structures in which one company owns the buildings while another company runs the hotel and casino.
Does Hyatt Own The Venetian?
No. Hyatt does not own The Venetian Resort.
Beginning January 9, 2025, The Venetian and The Palazzo began participating in World of Hyatt. Eligible members can earn and redeem World of Hyatt points on qualifying stays booked through Hyatt channels.
However, Hyatt explicitly states that The Venetian Resort remains independent and is not becoming a Hyatt-branded hotel. The Hyatt relationship is a loyalty and commercial partnership, not a transfer of ownership.
Current and Future Plans for The Venetian
The original article speculated that future owners might add sustainability projects and new entertainment. Current information provides a much clearer picture.
In May 2024, The Venetian announced a $1.5 billion reinvestment project covering major parts of the guest experience. The program has included redesigned Venetian suites, convention-space improvements, gaming changes, pool upgrades, restaurants, and other property enhancements.
The resort has also been carrying out a $188 million transformation of its convention center. In March 2026, The Venetian announced that the project would include the new 10,000-square-foot Lusso Lounge, scheduled to open in the fourth quarter of 2026.
These investments show that the post-Sands ownership period is focused on renovating and repositioning the existing resort rather than abandoning the Venetian identity that made the property famous.
Note: The former Sands Expo name should not be used as the primary current name. The resort now markets its meeting facilities as The Venetian Convention & Expo Center and The Venetian Convention Center.
Conclusion and Implications for the Hotel Industry
The Venetian’s ownership story has two distinct eras. Sheldon Adelson and Las Vegas Sands created and developed the resort, opening The Venetian in 1999 and expanding the complex with The Palazzo. That historical connection remains important, but it does not describe current ownership.
Since February 23, 2022, the more accurate answer is a split structure: VICI Properties owns the land and real estate, while an Apollo-managed affiliate owns the resort operating business and leases the property from VICI. Las Vegas Sands no longer owns The Venetian.
The arrangement also illustrates a wider hotel and casino industry model in which valuable resort real estate can be separated from the company responsible for daily operations. For guests, however, The Venetian continues to operate as a unified resort, with its suites, casino, dining, shopping, entertainment, gondolas, and convention facilities presented under The Venetian Resort Las Vegas identity.
If you are planning a trip to Las Vegas, ownership is only one part of preparing for your stay. TakeTravelInfo’s hardside carry-on luggage guide is a separate travel-planning resource; it is not a source for the ownership information above.
Frequently Asked Questions
Who is the owner of The Venetian Hotel?
The Venetian has a split ownership structure. VICI Properties owns the land and real estate, while an affiliate of funds managed by Apollo Global Management owns the operating business and leases the property from VICI.
Does Las Vegas Sands still own The Venetian?
No. Las Vegas Sands completed the approximately $6.25 billion sale of its Las Vegas resort assets on February 23, 2022.
Did Sheldon Adelson own The Venetian?
Sheldon Adelson was the founder and longtime leader of Las Vegas Sands, the company that developed and formerly owned The Venetian. He died in January 2021, before Las Vegas Sands completed the resort’s sale in 2022.
When was The Venetian Hotel opened?
The Venetian opened on May 3, 1999. It was developed by Las Vegas Sands as a Venice-inspired integrated resort.
What is The Venetian Hotel known for?
The Venetian is known for its all-suite accommodations, Venice-inspired architecture, canals and gondola rides, large casino, restaurants, shopping, entertainment, and extensive convention facilities.
Is The Venetian Hotel part of a larger resort complex?
Yes. The Venetian Resort Las Vegas includes The Venetian and The Palazzo along with gaming, restaurants, retail, entertainment, and The Venetian Convention & Expo Center.
Does Hyatt own The Venetian?
No. The Venetian and The Palazzo participate in World of Hyatt, but The Venetian remains an independent resort and is not a Hyatt-owned or Hyatt-branded hotel.
Who owns The Palazzo in Las Vegas?
The Palazzo is part of The Venetian Resort and falls under the same general structure: VICI Properties owns the associated resort real estate, while an Apollo-managed affiliate controls the operating business.
Where is The Venetian Hotel located?
The Venetian Resort is located on the Las Vegas Strip in Paradise, Nevada, using a Las Vegas postal address.
Sources
- Las Vegas Sands — Sands Completes Sale of The Venetian Resort — confirms the February 23, 2022 sale and approximately $6.25 billion total transaction value.
- Apollo Global Management — Venetian acquisition announcement — confirms Apollo-managed funds acquired the operating companies and entered into a lease with VICI.
- VICI Properties — 4Q 2025 Financial Supplement — confirms the current Venetian lease structure and Apollo-affiliated tenant.
- The Venetian Resort — The Story of The Venetian — supports the resort’s 1999 history and Venice-inspired design.
- The Venetian Resort — $1.5 Billion Reinvestment — supports current renovation and redevelopment information.
- Hyatt — The Venetian Resort World of Hyatt Integration — confirms the loyalty relationship and participation beginning in 2025.