Apollo Is Giving Venetian Casino Employees a Piece of Its Profit

Employees at the Venetian casino hotel in Las Vegas will have a chance to participate in some of the upside from the $6.25 billion purchase of their workplace.

Apollo Global Management Inc., which closed on its acquisition of the resort last month in collaboration with the real estate investment trust Vici Properties Inc., is offering an equity-like award to the resort’s roughly 7,000 employees.

The awards will give the workers a share of Apollo’s appreciation of the investment and are potentially worth $70 million or about $10,000 per employee, the New York-based asset management firm said. The money ...