Apollo Global Management is pumping $188 million into the Venice Convention and Exhibition Center in Las Vegas. [Image: Shutterstock.com]
The convention center is getting a facelift
New York private equity firm Apollo Global Management is pumping $188 million into the Venetian Resort Las Vegas in the form of a convention center upgrade.
KNTV Las Vegas goes to
The planned upgrades have been “carefully coordinated based on our customers’ feedback,” said Patrick Nichols, president and CEO of The Venetian Resort.
Gambling from withinHowever, he cites Nichols as saying that a facelift isn’t just for aesthetics. Instead, the CEO sees the renovation as “part of a more comprehensive $1 billion capital investment project for the entire resort.”
Despite the volatile state of the Las Vegas casino industry, following recent strikes by casino workers and costly hacking of industry giants like MGM, market forces in the gambling capital of the world demand that the show must continue in distinctly Vegas style.
Keeping up appearances
Nichols believes the $188 million upgrade will maintain The Venetian’s position at the “cutting edge of the industry.”
according to KNT TVthe convention center facelift includes new technology, meeting rooms and a “10,000-square-foot modern-style lounge.” […] Reminiscent of 1930s rifle design.
The Convention and Exhibition Center recently hosted the Global Gaming Expo (G2E), where, aside from all the gambling and sports betting innovations, executives from Penn Entertainment and Disney-owned ESPN sanctioned the launch of ESPN Bet in November.
Apollo rises
While renovating The Venetian isn’t as exciting as driving an F1 car across a casino floor, it shows just how serious Apollo is about consolidating its hold on Sin City.
Looking to turn heavyweight private equity firm into ‘trillion-dollar company’
according to luck Recently, Apollo CEO Mark Rowan boosted the Wall Street firm’s dividend with the aim of turning the heavyweight private equity firm around. To a “trillion-dollar business.”
The Venetian will be renovated in phases over two years starting in 2024.
