Logout

Question of the Day - 02 August 2021

Q:

With the sale of the Venetian/Palazzo, have there been any noticeable changes in the casino and/or hotel?

 

A:

It’s too early to tell.

The $6.2 billion sale isn't expected to close until October or perhaps even December of this year. In the meantime, Las Vegas Sands management appears to be staying the course in terms of entertainment and other amenities. It would be premature of CEO Rob Goldstein to act like the sale is a done deal. First, Apollo Management, the co-buyer (along with Vici Properties), needs a gaming license or to contract with an outside casino-operations group. 

Qualifying for a gaming license isn't a particularly high bar for Apollo to clear, as it was previously a co-owner of Caesars Entertainment, but new ownership generally doesn’t presume to assert itself until the deal closes. 

In the meantime, Apollo hasn't made any of its intentions concerning the property known. Despite the company’s name, it doesn’t manage properties; rather, it manages an investment portfolio. Which means it will most likely subcontract the running of the two casinos. 

Apollo owns Great Canadian Gaming Corp., so that's one possibility. Problem is, Great Canadian isn't licensed in the U.S. Apollo could also go with another company or even try to cobble together a team of its own from current Venetian/Palazzo executives who'll be made potentially redundant by the sale. (Las Vegas Sands will no longer have any U.S. operations when the sale closes, so we assume that any executives who don't want, or haven't been invited, to move to Macau or Singapore are updating their resumes.)

We’re pretty confident Great Canadian would like the managerial contract, as it’s desperately trying to catch up with its for cash flow nowadays. Canadian casinos started opening only last month (our northern neighbor is lagging the U.S. in its rate of vaccinations).

We don’t anticipate having to wait too much longer to find out who Apollo’s operator of choice will be, as they’ll need to have one in place in time for this fall’s Nevada Gaming Control Board hearings. Vici may also have some say in the matter, but its role is that of landlord of the real estate, while Apollo owns the operations of Venelazzo, so the latter is likelier to be calling the tune.

 

No part of this answer may be reproduced or utilized in any form or by any means, electronic or mechanical, without the written permission of the publisher.

Have a question that hasn't been answered? Email us with your suggestion.

Missed a Question of the Day?
OR
Have a Question?
Tomorrow's Question
Has Clark County ever considered legalizing prostitution?

Comments

Log In to rate or comment.
  • Albert Pearson Aug-02-2021
    Correction
    You say Canada is lagging in vaccinations. That should read WAS lacking in vaccinations. Canada is now approaching 60% fully vaccinated. That being said Canada was behind the US in opening up, and even now Canada is taking a much more cautious approach to opening and it will be a while longer before things open up completely. 

  • Deke Castleman Aug-02-2021
    Right
    Yes, this answer was written before the acceleration of vaccinations in Canada and we failed to update that. Thank you for doing so for us. 

  • Thomas Dikens Aug-02-2021
    Vaccine resistance
    3 percent of Canadian say that they will NOT get vaccinated. While we have something over 30 percent.  It was never politcized in Canada.  So we are unlikely to ever retake the lead.
    

  • Kevin Lewis Aug-02-2021
    The Swami predicts...
    After the acquisition is finalized, everything at the V/P will be worse and even more insanely expensive.
    
    Gee, I'm really going out on a limb here, aren't I?

  • Luis Aug-02-2021
    wow that stat is wrong!
    Canada is not lagging, even Mexico has a better vaccination rate than the US right now. What's the problem? the US made vaccination political.

  • Doc H Aug-02-2021
    Luis.....
    Making an it's an all "political" comment is not valid. Many I know have nothing against vaccines at all but in the case of this one, "warp speed" gives them pause.....developing/getting a vaccine in arms of people in < 1 year when the vaccine timeline from start to finish is in the range of over 10 years to test for not just does it work, but long term safety. I know the parents of 2 MD's, one an emergency room doc, and the other a general practicing doc, who for those reasons won't take it nor do they want their family to take it. I have a family member who is immune compromised and could have bad effects from it and read data they may not be much if any protected from it beyond the possible side-effects my family member might have. So you see, it helps to take the blinders off and perhaps get out of your own mono thinking "it's all political" and realize some people have some logical and legitimate reasons to not run into something where the risk/reward is leaning far risk to them. 

  • Doc H Aug-02-2021
    development.......
    This is from John Hopkins:
    
    "A typical vaccine development timeline takes 5 to 10 years, and sometimes longer, to assess whether the vaccine is safe and efficacious in clinical trials". And to further note, the current covid vaccine is not an approved vaccine, it's "experimental". But you know this, correct? See, not political, but many individuals weighing some very important elements here in the big picture and the big risk/reward picture that each person has to analyze. Many of us don't care about politics/don't play "team sports" like some do and make decisions based on their "Team". 

  • Roy Furukawa Aug-02-2021
    Veni, Vidi, Vici...
    I came, I saw, I ruined a good thing.

  • O2bnVegas Aug-02-2021
    Doc H
    Uh, check your source.  If it says "John Hopkins" it probably is not one you want to hang your hat on.  Try "Johns Hopkins."  You might find something more legitimate, more applicable to the current situation.  Yes, there are some persons with documented contraindications to the vaccine, as recommended by their physician, not just something they read and decided applied to them.  I personally know such a person.  But those do not represent the vast majority of US citizens who should take the vaccine and would benefit from it.

  • Doc H Aug-02-2021
    O2bnVegas....
    My error, indeed it was from JOHNS Hopkins though you could have found that yourself with a quick search also and verified what is reality on their website in regards to vaccine development. This reality of time frame for vaccine development is referenced on many legit sources because it's reality but if we choose to dance with spelling errors...... 
    
    But you missed the point beyond "contradictions"....ask any scientific what the long term possible side effects are with such a short development time. The only legitimate/answer based on science is...we don't know. If your ok with that risk, are ok with an "experimental" vaccine, more power to you, it's not me to judge, as many are judging others on their choice. 

  • Doc H Aug-02-2021
    And before....
    everyone who got vaccinated get on their high horse and blame the unvaccinated for the spread of covid around town and other mutations of the virus, it's time to come in for a landing and some humility what blanket masking is about....hint, it's not for the unvaccinated spreading the virus:
    
    "CDC study says vaccinated people carry same amount of COVID as unvaccinated"
    
    See the current article on the LVRJ news site and many other sites on this topic. It's sobering. Time for a little humility from some of you and turn the blaming down to zero where it belongs, per CDC findings. 

  • Jxs Aug-02-2021
    Changes
    I’ve been told there will only be a few changes- 6:5 BJ, but only in the HL room (1:1 at all other levels), quadruple zero roulette for more ways to win, single odds craps, and $18 Coors cans during happy hour. Players club will be discontinued. 

  • jay Aug-02-2021
    I am legend
    Those who fear the vax due to the short cycle time (invention, to market, to arm) need only watch the movie I am Legend with Will Smith. 
    
    I personally have been double vaxed but of course I am still in shock from the other Will Smith documentary “Independence day” lol. 
    

  • Steven Larson Aug-04-2021
    Not quite, "Doc"
    You are right that some non-vaxxers have legitimate reasons to wait or avoid it - but most do not.  And the Covid vaccine is not "experimental" (which implies no clinical trials) - it has only received emergency authorization rather than full authorization (which should be coming shortly). Yes the normal approval process takes longer - but they fast-tracked Covid vaccines because of the obvious need. And they were able to do that by running stages in parallel that are usually done in succession, as well as with guaranteed funding from the government that took the risk away from the drug companies and allowed them to put all resources into the development. And yes vaccinated people can spread it, But most experts agree that if more people had gotten vaccinated we may well have reached herd immunity and there would be nothing left to spread. 

  • Sally_Ann Aug-05-2021
    Not quite 
    You're all forgetting that unlike in the US and most wealthy countries, Canada has chosen to delay second jabs and are refusing to follow Pfizer and Moderna manufacturers dosage interval. 
    
    However, all this is now moot since even the fully vaccinated are becoming infected and spreading covid to others. 

  • Sally_Ann Aug-05-2021
    lambda variant
    Oh. I forgot to add that it's worse than conjecture to suggest that if we all became fully vaccinated by now we would've reached herd immunity. That's nonsense. The lambda variant has been known for a long time and it's not new. It is intact impervious to our current vaccines. The virus was arguable engineered to always be several steps ahead. 

  • jay Aug-05-2021
    Impervious
    Corona virus's are akin to the common cold and to some degree the flu. Regardless of the vax you are not going to erase the virus and your not going to stop the spread - you will however slow it down as some people won't get sick and won't pass it along.
    Theoretically fully vaxed people can get the virus and pass it along - Delta and Lamba are early evidence of this. 
    
    So if its not going away why bother ?? the simple answer is to ensure that when you do get it, its not going to land you in hospital (taxing the medical system for everyone), and its not going to kill you or your family. 
    
    The only legit concern is the long term impact - such as will I get cancer in 30 years caused by the vax ?? If the small pox and Polo vaccines are any indication - the answer is NO, but only time will tell and I would rather live the next 30 years not getting sick on the remote chance that I will grow a tail. 
    
    
    
    

  • Deacon Blues Aug-05-2021
    Doc H is not a real doctor
    I am a front line physician in the US. I see COVID-19 patients every day. I advise every patient that is 12 yrs old and up to get immunized against COVID. This is the best vaccine I have ever seen in terms of how many lives it has saved, lack of side effects and great efficacy in preventing severe illness. Make no mistake about it: we are in this current surge because not enough eligible people were immunized against COVID.
    
    EVERYBODY who is dying of COVID now is unvaccinated or immune suppressed. Right before they are intubated they have a come to Jesus moment. Too late.
    
    When Doc H prefaces remarks by saying "I have nothing against vaccines" he is practically screaming that he does not support vaccines. Don't believe me? What is the first thing that comes to mind when you hear somebody say, "I have nothing against black people"? Uh...you don't like black people.
    
    The name "Doc H" implies that he is a physician. Don't be foolish and believe his comments/advice. It could kill you.