Venetian Resort Las Vegas Seeks $2.35 Billion to Refinance Debt

The iconic Venetian Resort Las Vegas is seeking to raise $2.35 billion from debt investors to refinance its capital structure, joining a flurry of high-yield deals as investor appetite for riskier debt rebounds.

The casino resort, acquired in 2022 by Apollo Global Management Inc.funds, is seeking a $1.175 billion term loan, according to a person with direct knowledge of the matter. Other secured debt of that amount is also planned to be raised, added the person, asking not to be named because discussions are private. Such borrowings often consist of junk bonds.

Lender commitments for the loan are due ...