Hard Rock Interested in Buying Venetian & Palazzo Properties

Speculations are rife that Las Vegas Sands has got the expression of interest from Hard Rock to purchase its two casinos in Nevada. Las Vegas Sands is the leading player in the gambling industry, and word has it that it is willing to sell two of its biggest casino properties in Nevada for a roundabout $6 billion. These two casinos are The Venetian (4000 rooms and 120,000 square feet casino floor) and The Palazzo (3000 rooms and 105,000 square feet casino floor).  The former property was opened in 1999 while the latter became operational in 2007.

Given the prevailing pandemic situation, it’s not in the scope of many organizations to make such a huge investment (to the tune of $6 billion). However, Hard Rock, a global casino giant, seems to have the potential to bid for the properties. The chairman of Hard Rock International, Allen, had expressed interest in taking the company to Las Vegas, and this acquisition will provide a perfect platform to do that.

Allen knows that Las Vegas has huge business potential, and once the pandemic is over, the casino business will make a strong comeback. Hard Rock is equally bullish on the prospects of online gaming and mobile betting. It has started its own Hardrock Digital sportsbook platform recently, which offers a very interactive gaming interface for the players.

In terms of the online sports betting market potential, Nevada is second only to New Jersey. This also partly explains Hard Rock’s intention to acquire The Venetian and The Palazzo from Las Vegas Sands.