Leaving Las Vegas: Sands’ $6.25 Billion Exit
by James Rutherford
The Las Vegas Strip exists today largely in the mold that Las Vegas Sands fashioned for it, and certainly, there’s been plenty to say over the last week about the company’s $6.25 billion decision to leave. There’s been no shortage of questions. The most compelling: Why did the company sell?
The deal didn’t come from out of the blue. Bloomberg News had an inside track on it back in the fall, even down to the sale price and the likelihood of a split owner/operator transaction involving a real estate investment trust (REIT) – two of which, VICI Properties and MGM Growth Properties, already own most of the Strip’s resort casinos.
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