It has been all about change at the Venetian Las Vegas in recent months. Amid a large restructuring and expansion effort at the Las Vegas Strip casino resort, operator Apollo Global Management this week laid off 50 middle and senior managers.
The layoffs reportedly included several longtime executives who had been at the company for a decade or longer. Some also received lower severance payouts than under previous owner Las Vegas Sands.
Earlier in 2024, Apollo announced it was putting $800 million into a huge $1.5 billion renovation project as the Venetian turned 25. The rest of the cash was put up by Caesars spin-off VICI Properties, which owns the land and leases it back to Apollo.
Apollo purchased the operations of the Venetian and its sister property, the Palazzo, in 2020, from the original builder Sands.
“As part of our commitment to delivering exceptional service and remaining agile in a rapidly evolving industry, we have made the decision to streamline our organizational structure,” said a Venetian spokesperson.
“By reducing layers within our leadership, we can act more swiftly, make decisions more efficiently, and ensure a closer connection between our frontline teams and senior leaders.”
The Layoffs
Some 50 staff were laid off this week out of a workforce of around 8,500 across the Venetian and Palazzo.
Most of these were senior and middle management, as opposed to service staff. Apollo recently signed its first union contract for hospitality workers at the casino with the Nevada Culinary Union Local chapter. Las Vegas Sands’ deceased former owner, Sheldon Adelson, was historically opposed to unions, but also paid his casino and backroom staff generously.
Some of the employees let go had been at the company since the early 2000s. Exact details of severance packages were under nondisclosure agreements and not revealed. However, former employees anonymously told local media they weren’t happy with the package in many cases.
“This change was made with thoughtful consideration and guided by our core values, recognizing that transitions like these can be challenging,” the Venetian spokesperson said.
“We remain dedicated to supporting all affected Team Members and positioning our company for continued growth and success,” he said.
The Rebuild
As part of the $1.5 billion redevelopment, Apollo has already launched a new poker room and added more high-limit slots.
The former saw a glitzy celebrity launch night earlier in 2024, including chart-topping singer and gambling fan Nelly. However, the poker room, which makes less money for casinos than slots, was moved to a quieter area after closing in its old space before the pandemic. It was replaced by the new high-limit slot room.
Other developments at the Las Vegas Strip resort include renovating the Venetian Expo Centre, upgrading the suites in both its resort towers, and adding new dining and hospitality spaces.
The Venetian also recently signed a deal to cross its loyalty program with that of the tribal Pechanga Casino Resort in Southern California.
In less positive news for the Las Vegas resort, it has been the target of two recent lawsuits. One man is claiming damages after a scorpion stung him in the testicles while asleep in a room at the Venetian’s hotel tower. Another past guest claims that resort security pushed him to the ground, damaging his brain and putting him into a coma, over a dispute about his low-riding pants.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
