Betting on Las Vegas: The Venetian announces a massive $1.5B reinvestment project

seekingalpha05-10

The Venetian Resort on the Las Vegas Strip will undergo a $1.5 billion reinvestment project that is being called the largest and most expensive hotel renovation in history. The top-to-bottom project ...

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The top-to-bottom project ...</p>\n\n<a href=\"https://seekingalpha.com/news/4103970-betting-on-las-vegas-the-venetian-announces-a-massive-15b-reinvestment-project\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Betting on Las Vegas: The Venetian announces a massive $1.5B reinvestment project</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBetting on Las Vegas: The Venetian announces a massive $1.5B reinvestment project\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-10 01:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4103970-betting-on-las-vegas-the-venetian-announces-a-massive-15b-reinvestment-project><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Venetian Resort on the Las Vegas Strip will undergo a $1.5 billion reinvestment project that is being called the largest and most expensive hotel renovation in history. The top-to-bottom project ...</p>\n\n<a href=\"https://seekingalpha.com/news/4103970-betting-on-las-vegas-the-venetian-announces-a-massive-15b-reinvestment-project\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z3B42.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD","start_time":0,"source_url":"https://seekingalpha.com/news/4103970-betting-on-las-vegas-the-venetian-announces-a-massive-15b-reinvestment-project","article_id":"2434045023","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1304246089/image_1304246089.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434045023","pubTimestamp":1715277469,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The Venetian Resort on the Las Vegas Strip will undergo a $1.5 billion reinvestment project that is being called the largest and most expensive hotel renovation in history. 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The top-to-bottom project will include everything from a rebranding of the lion logo to a redesign of guest suites. All 4,000 suites in the Venetian tower will be upgraded with new \"energy, spirit, and warmth,\" according to the resort. The new suites were noted to be inspired by the traditional ornate costumes of the Venetian Carnival, with a contemporary, fresh design. Beyond the accommodations, the redevelopment will include the addition of new chef-led culinary concepts, to be announced later this year. The Venetian said the new suites will be available for stays beginning in September of this year. The new suites are inspired by the traditional ornate costumes of the Venetian Carnival, infusing energy, spirit, and warmth into a contemporary, fresh design. Beyond the accommodations, the redevelopment delivers first-class offerings to Las Vegas, including the addition of exciting new chef-led culinary concepts, to be announced later this year. In addition, the redevelopment will present new gaming offerings, including The Palazzo High Limit Lounge, the fully redesigned sportsbook complete with a multi-year naming rights partnership with Yahoo, the Yahoo Sportsbook powered by William Hill, and a brand-new poker room that will be debuting this summer. As part of the redevelopment, The Venetian Resort made a commitment to invest $188 million in the renovation of the resort's convention center. \"The Venetian Resort’s innovative spirit has had a massive impact on Las Vegas over the last 25 years and paved the way for our visionary $1.5 billion reinvestment today,\" said Patrick Nichols, president and chief executive officer of the Venetian Resort Las Vegas. \"This redevelopment marks more than just a surface-level renovation, it signifies a deep understanding of our guests and a profound reimagining of an iconic resort unlike any other in history,\" he added. The Venetian Las Vegas is owned by VICI Properties (NYSE:VICI) and operated by Apollo Global Management (NYSE:APO). The hotel and casino resort, which was developed by businessman Sheldon Adelson and Las Vegas Sands (LVS), opened on May 4, 1999. Over the last year, the property has benefited from its proximity to the Sphere Las Vegas, owned by Sphere Entertainment Co. (SPHR). Earlier in the month, VICI Properties (VICI) said it would provide capital to Venetian Resort Las Vegas for reinvestment projects through VICI’s Partner Property Growth Fund strategy. VICI (VICI) has agreed to provide up to $700 million of financing through the Venetian Capital Investment, comprised of $400 million to be drawn in 2024 and an incremental $300 million that The Venetian Resort will have the option, but not the obligation, to draw in whole or in part until November 1, 2026.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434045023"}