Las Vegas Sands’ $6.25 Billion Sale of Las Vegas Properties

Skadden, Arps, Slate, Meagher & Flom LLP advised Las Vegas Sands Corp. on the deal.

Las Vegas Sands Corp. (NYSE: LVS) has entered into definitive agreements to sell its Las Vegas real property and operations, including The Venetian Resort Las Vegas and the Sands Expo and Convention Center (collectively, “The Venetian”) for an aggregate purchase price of approximately $6.25 billion. 

Under the terms of the agreement, an affiliate of funds managed by affiliates of Apollo Global Management, Inc. will acquire subsidiaries that hold the operating assets and liabilities of the Las Vegas business for approximately $1.05 billion in cash, subject to certain post-closing adjustments, and $1.2 billion in seller financing in the form of a term loan credit and security agreement, and VICI Properties Inc., will acquire subsidiaries that hold the real estate and real estate-related assets of The Venetian for approximately $4.0 billion in cash. The closing of the transactions is subject to customary closing conditions, including regulatory approvals.

Las Vegas Sands is the world’s preeminent developer and operator of world-class Integrated Resorts. Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort.

Goldman Sachs & Co. LLC acted as exclusive financial advisor to Las Vegas Sands. 

The Skadden team included M&A partners Howard Ellin (Picture) and Kenneth Wolff, and associates Marcel Rosner, Maxwell Kaufman and Sarah Speight; Real Estate partner Audrey Sokoloff and counsel Agnesine (Nesa) Amamoo; Intellectual Property and Technology partner Bruce Goldner, counsel Jessica Cohen, and associateBrianna van Kan; Tax partners David Rievman and Alec Jarvis, and associate Joshua Lin; Banking partnerStephanie Teicher and associate Sean Francis (SF) Cornely; Executive Compensation and Benefits partnerRegina Olshan and associate Dana Harrits; and Capital Markets partner Yossi Vebman. 

Involved fees earner: Agnesine Amamoo – Skadden Arps Slate Meager & Flom; Jessica Cohen – Skadden Arps Slate Meager & Flom; Sean Francis Cornely – Skadden Arps Slate Meager & Flom; Howard Ellin – Skadden Arps Slate Meager & Flom; Bruce Goldner – Skadden Arps Slate Meager & Flom; Dana Harrits – Skadden Arps Slate Meager & Flom; Alec Jarvis – Skadden Arps Slate Meager & Flom; Maxwell Kaufman – Skadden Arps Slate Meager & Flom; Joshua Lin – Skadden Arps Slate Meager & Flom; Regina Olshan – Skadden Arps Slate Meager & Flom; David Rievman – Skadden Arps Slate Meager & Flom; Marcel Rosner – Skadden Arps Slate Meager & Flom; Audrey Sokoloff – Skadden Arps Slate Meager & Flom; Sarah Speight – Skadden Arps Slate Meager & Flom; Stephanie Teicher – Skadden Arps Slate Meager & Flom; Brianna van Kan – Skadden Arps Slate Meager & Flom; Yossi Vebman – Skadden Arps Slate Meager & Flom; Kenneth Wolff – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Las Vegas Sands Corp.;

Author: Martina Bellini