LAS VEGAS (KTNV) — Friday marks 25 years since The Venetian Resort opened its doors in Las Vegas and the owners of the iconic complex are in the midst of a major renovation project to help celebrate.
"$1.5 billion is a birthday present that I think anybody would take," says Marcy Miles, chief marketing officer for the property, which is owned by Apollo Global Management, a private equity firm.
The project has actually already started. The first re-imagined suites at the Venetian's two towers are set to open in September.
In all, 4,000 rooms will be renovated. The cost of the project is roughly the same as what it cost to build the resort, which opened May 3, 1999.
"The suites are over 700 square feet," Miles says. "Guests are going to come in and it's going to feel like they're in a villa in Venice. That's the goal."
The Venetian opened to much fanfare 25 years ago, complete with Venice-themed canals and gondoliers. The idea for the Italian-themed palace in the desert was dreamed up by the late Sheldon Adelson, a Las Vegas casino mogul who revolutionized the private conventions and meetings business model.
"He was a visionary," Miles says.
Las Vegas Sands, Adelson's company, sold the Venetian and adjoining Palazzo to Apollo Global Management back in 2022.
The renovation will include, but not be limited to, a revamping of the Venetian's convention center and a new sportsbook area.
"It's astounding to see the significant growth and development the Venetian Resort has made in the the two years since we initiated this partnership," said Daniel Cohen, a partner at Apollo, in a statement.
The project is expected to be done sometime in early 2025.
