Last Updated on July 25, 2026 by Daniel Globe
The Venetian Hotel and Casino is no longer owned by Las Vegas Sands. Since February 23, 2022, VICI Properties has owned the resort’s land and real estate, while funds managed by affiliates of Apollo Global Management own the operating companies. In practical terms, VICI is the landlord and the Apollo-affiliated business runs the hotel, casinos, and convention operations.
Quick Answer
VICI Properties owns The Venetian Resort Las Vegas land and buildings. Apollo-managed funds own the resort’s operating companies and control the hotel, casino, and convention business. The split began when Las Vegas Sands completed a $6.25 billion sale of The Venetian, The Palazzo, and Venetian Expo in February 2022.
Key Takeaways
- VICI Properties owns the resort’s land and real estate.
- Apollo-affiliated funds own the operating companies that run the resort business.
- Las Vegas Sands sold the resort in 2022 and is no longer its owner or operator.
- The 2022 transaction totaled about $6.25 billion: $4 billion for the real estate and $2.25 billion for the operations.
- The Venetian Resort complex includes The Venetian, The Palazzo, and Venetian Expo, while nearby attractions such as Sphere and the Grand Canal Shoppes have separate corporate structures.
Who Owns The Venetian Hotel and Casino Today?
The Venetian Resort has a split ownership structure. One company owns the physical property, and another group owns the operating business. This arrangement is common in the modern casino industry because it separates real estate investment from day-to-day hotel and gaming operations.
Ownership Breakdown
| Part of the Business | Current Owner | What That Means |
| Land and real estate | VICI Properties | VICI is the landlord and owns the physical resort assets covered by the sale. |
| Hotel, casino, and convention operations | Funds managed by Apollo affiliates | The Apollo-affiliated operating companies employ the resort team, serve guests, and run the business under a long-term lease. |
The most accurate one-sentence answer is: VICI owns The Venetian’s real estate, while Apollo-affiliated funds own its operating business.
How the 2022 Sale Worked
Las Vegas Sands announced the sale in March 2021 and completed it on February 23, 2022. The transaction divided the resort into two parts:
- Apollo-affiliated funds paid about $2.25 billion for the operating companies of The Venetian Resort Las Vegas and Venetian Expo.
- VICI Properties paid about $4 billion for the land and real estate assets.
- The total transaction value was about $6.25 billion.
At closing, the Apollo-affiliated operator entered into a long-term triple-net lease with VICI. Under this type of lease, the tenant operates the property and generally bears major property-related costs in addition to rent. VICI’s original transaction materials described a 30-year initial term with two 10-year renewal options.
Note: “Owner” can mean the real estate owner or the operating-business owner. Articles that name only VICI or only Apollo are incomplete unless they explain this split.
Ownership Timeline
- 1989: Sheldon Adelson and his partners bought the Sands Hotel. They did not buy The Venetian, which had not yet been built.
- 1996: The Sands Hotel was demolished to clear the site for the new Venetian resort.
- May 3, 1999: The Venetian opened with an Italian-inspired design modeled on Venice.
- 2021: Las Vegas Sands announced that it would sell The Venetian Resort Las Vegas.
- February 23, 2022: The sale closed, with VICI acquiring the real estate and Apollo-affiliated funds acquiring the operating companies.
There is no support for the claim that The Venetian was sold to an investor group in 2014 and then reacquired by Las Vegas Sands in 2019. The documented ownership change occurred in 2022.
What Is Included—and What Is Separate?
The 2022 sale covered the integrated resort assets commonly described as The Venetian, The Palazzo, and Venetian Expo. These properties operate as one connected resort complex, with shared amenities and convention facilities.
Two nearby attractions require extra clarification:
- Grand Canal Shoppes: The shopping center is physically integrated with the resort but has a separate retail ownership and management structure. Brookfield Properties lists Grand Canal Shoppes in its retail portfolio.
- Sphere: Sphere is connected to the resort area and marketed as Sphere at The Venetian, but it is part of Sphere Entertainment Co., not the Apollo/VICI ownership split.
History of The Venetian Hotel and Casino
The Venetian was developed by Las Vegas Sands under Sheldon Adelson’s leadership. The concept was inspired by Venice, Italy, and sought to combine a convention-focused resort with luxury suites, gaming, dining, shopping, and entertainment.
Artists, architects, and craftspeople studied Venetian landmarks and used imported materials to create the resort’s detailed interiors. The property includes interpretations of St. Mark’s Campanile, the Rialto Bridge, canals, marble colonnades, hand-painted frescoes, and Italian-inspired public spaces. According to the resort’s official history, the original Venetian tower was completed in 1999.
The resort later expanded with additional suites, The Palazzo, and extensive convention facilities. Its all-suite format and focus on meetings helped establish the integrated-resort model that combines lodging, gaming, retail, dining, and business travel in one destination.
Accommodations and Amenities at The Venetian Hotel
The Venetian Resort has about 7,100 suites across The Venetian and The Palazzo towers. Standard suites generally start at about 650 to 720 square feet and include a separate living area and an Italian-marble bathroom. The Venetian portion of the complex contains roughly 4,000 suites, which explains why some descriptions use the smaller figure when referring only to that tower.
Guests also have access to multiple pools, restaurants, casino floors, convention facilities, and Canyon Ranch Spa + Fitness. The connected Grand Canal Shoppes provide boutiques, restaurants, indoor canals, and gondola rides, although the shopping center’s corporate ownership is separate from the hotel’s current Apollo/VICI structure.
Entertainment and Dining Options at The Venetian Hotel
| Dining Collection | More than 40 places to eat, according to the resort’s current dining guide |
| Cuisine | American steakhouses, French, Italian, Asian, seafood, casual dining, bakeries, and more |
| Live Entertainment | Concerts, comedy, immersive productions, and rotating residencies at on-site and connected venues |
| Nightlife | Lounges, bars, TAO Nightclub, and other changing nightlife concepts |
| Outdoor Dining | Available at select restaurants and pool venues |
The resort’s restaurant lineup includes Delmonico Steakhouse, an American steakhouse with New Orleans influences, and Bouchon, Thomas Keller’s French restaurant. These should not be described as Italian restaurants.
Note: “O” by Cirque du Soleil is staged at Bellagio, not The Venetian. Entertainment schedules change often, so travelers should check the resort’s official calendar before booking.
The Casino Experience at The Venetian
The Venetian Resort operates two connected casino areas at The Venetian and The Palazzo. Its 2024 Corporate Social Responsibility Report listed 205,036 square feet of gaming floor, 2,239 slot machines, and 263 table games across the resort. These totals can change as machines and gaming areas are refreshed.
The casino offers slots, video poker, blackjack, roulette, baccarat, craps, sportsbook wagering, high-limit rooms, and a dedicated poker room. Venetian Rewards allows eligible guests to earn benefits through gaming and other resort spending.
Warning: Casino gambling is limited to guests age 21 or older under Nevada law. Set a spending limit, never chase losses, and use the resort’s responsible gaming resources if gambling stops feeling recreational.
The Venetian’s Role in Las Vegas Entertainment
The Venetian helped popularize the convention-based integrated-resort model in Las Vegas. Its combination of large suites, meeting space, gaming, shopping, restaurants, and themed attractions created a destination that served both leisure travelers and major business events.
The resort remains closely connected to the city’s entertainment economy through its theaters, restaurants, nightlife venues, convention center, and proximity to Sphere. However, nearby branding should not be confused with common ownership: Sphere is a separate company, and Grand Canal Shoppes has a separate retail structure.
Sustainability and Corporate Social Responsibility at The Venetian
The Venetian publishes a corporate social responsibility report covering its employees, community work, and environmental programs. Its 2025 report organizes sustainability around green buildings, environmentally responsible operations, green meetings, and stakeholder engagement.
The report states that 90% of property lighting had been upgraded to energy-efficient LEDs, that water-saving projects had saved 33 million gallons, and that the resort diverts 27 types of materials from landfills through recycling, reuse, or repurposing. It also describes food-rescue and volunteer programs serving the Las Vegas community.
These documented programs are stronger evidence than broad claims that the resort is automatically an industry leader. Environmental performance should be judged by published metrics, certifications, and year-over-year progress.
Current Renovations and Future Plans
The Venetian is in the later stages of a multi-year, $1.5 billion redevelopment plan. Announced in 2024, the program has included renovations to more than 4,000 suites in The Venetian towers, convention-center updates, new restaurants, redesigned gaming spaces, refreshed pool areas, and a new resort identity.
In December 2025, the resort said it expected to continue adding luxury gaming spaces, complete convention-center work, and begin suite upgrades at The Palazzo in 2026. Because construction schedules and venue lineups can change, guests should confirm current conditions directly with the resort before a stay or event.
The Venetian remains one of the best-known resort complexes on the Las Vegas Strip, but its ownership story is now straightforward: Las Vegas Sands built and operated it for more than two decades, then sold it in 2022. VICI owns the real estate, while Apollo-affiliated funds own the operating business.
Planning a Stay at The Venetian
For practical trip preparation, the site’s existing guides to packing cubes and travel humidors may help travelers organize luggage and protect cigars during a Las Vegas stay.
Frequently Asked Questions
Who currently owns The Venetian Hotel and Casino?
VICI Properties owns the land and real estate. Funds managed by Apollo Global Management affiliates own the operating companies that run The Venetian Resort Las Vegas and Venetian Expo.
Does Las Vegas Sands still own The Venetian?
No. Las Vegas Sands completed the sale of The Venetian Resort Las Vegas on February 23, 2022, and no longer owns or operates the Las Vegas property.
When did Apollo and VICI acquire The Venetian?
The transaction closed on February 23, 2022. Apollo-affiliated funds acquired the operating companies, while VICI Properties acquired the land and real estate.
How much was The Venetian sold for?
The total transaction value was approximately $6.25 billion. Apollo-affiliated funds paid about $2.25 billion for the operating companies, and VICI paid about $4 billion for the real estate.
Did Las Vegas Sands acquire The Venetian in 1989?
No. In 1989, Sheldon Adelson and his partners bought the Sands Hotel, which stood on the future Venetian site. The Sands was demolished in 1996, and The Venetian opened in 1999.
Are The Palazzo and Venetian Expo part of the same ownership deal?
Yes. The 2022 sale covered The Venetian Resort Las Vegas, including The Venetian, The Palazzo, and Venetian Expo. VICI owns the real estate, and Apollo-affiliated funds own the operating companies.
Are Sphere and Grand Canal Shoppes owned by Apollo or VICI?
Not in the same way as the hotel and casino. Sphere is part of Sphere Entertainment Co. Grand Canal Shoppes is physically connected to the resort but has a separate retail ownership and management structure.
Has The Venetian changed ownership several times?
The documented history is simpler than that. Las Vegas Sands developed and operated the resort from its 1999 opening until the 2022 sale. Claims of a 2014 sale and a 2019 reacquisition are incorrect.
Sources
- Apollo Global Management acquisition announcement — confirms the operating-company acquisition and purchase price.
- Las Vegas Sands sale-completion announcement — confirms the February 2022 closing and $6.25 billion total value.
- VICI Properties: The Venetian Resort Las Vegas — confirms VICI’s real estate ownership and the resort components.
- The Venetian Resort official history — supports the development story, design details, and 1999 opening.
- The Venetian Resort hotel facts — supports the all-suite format, suite count, and standard suite sizes.
- The Venetian Resort 2024 Corporate Social Responsibility Report — supports casino size, slot, table, and sustainability disclosures.