Venetian Resort Las Vegas seeks $2.35 billion debt refinancing
Updated
Updated · Bloomberg · May 1
Venetian Resort Las Vegas seeks $2.35 billion debt refinancing
11 articles · Updated · Bloomberg · May 1
The casino resort plans a $1.175 billion term loan and another $1.175 billion in secured debt, according to a person with direct knowledge.
The refinancing would reshape the capital structure of the Las Vegas property, which Apollo Global Management funds acquired in 2022.
The deal comes amid a burst of high-yield issuance as investor appetite for riskier debt improves, potentially supporting borrowings that often include junk bonds.
What risks do investors face as Apollo leans on junk bonds and secured debt for The Venetian amid a shifting Las Vegas tourism landscape?
With Apollo’s aggressive debt strategy, how might The Venetian’s financial health and competitiveness evolve in a rapidly changing casino industry?