Las Vegas Sands Cashes In Some of Its Vegas Properties

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Las Vegas Sands (LVS) - Get Report has struck a deal to sell its Las Vegas real estate properties and gambling operations including the Venetian Resort Las Vegas to Apollo Global Management (APO) - Get Report for $6.25 billion.

Under terms of the deal, an affiliate of funds managed by Apollo Global will acquire subsidiaries that hold the operating assets and liabilities of the Las Vegas business for approximately $1.05 billion in cash and $1.2 billion in seller financing.

VICI Properties (VICI) - Get Report will acquire subsidiaries that hold the real estate and real estate-related assets of the Venetian for approximately $4 billion in cash.

The deal marks a turning point for Las Vegas Sands, founded by billionaire Sheldon Adelson, who in January died at the age of 87 from complications related to treatment for non-Hodgkin's Lymphoma. 

Watch the video above to learn more about what's next for Las Vegas Sands.

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