Expanding Apollo’s Gaming Portfolio
Apollo made headlines three years ago when they returned to Las Vegas with an historic acquisition from Las Vegas Sands: operating rights to Venetian, Palazzo and Venetian Expo valued at $6.25 billion. This move further established Apollo as an industry player while producing significant financial improvements at Venetian in terms of employee bonuses and investor dividends resulting from strategic upgrades of venue upgrades.
Apollo’s current ventures outshone its past endeavors, such as its ambitious purchase of Caesars Entertainment with TPG Capital back in 2008 – leading to bankruptcy and eventual sale of their stakes to new shareholders in 2019! Now, Apollo is actively looking at acquisition opportunities within gaming such as Everi and International Game Technology’s global gaming and PlayDigital units; along with various gaming properties worldwide.
The Significance of S&P 500 Inclusion
As Apollo joins the S&P 500 ranks of financial elite, it joins Blackstone and KKR who also boast gaming asset portfolios. Being included on one of the world’s most closely followed indices with trillions in investment at stake speaks for itself; hence Apollo shares’ sharp increase after becoming eligible.
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