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Luxury doesn’t even begin to describe The Venetian Resort in Las Vegas. With a large casino, premium facilities, and a great reputation, how much does The Venetian make a day?
The Venetian Resort makes approximately $4.9 million in revenue on a daily basis. The $4.9 million comes from multiple income streams, including the revenue from its casino, hotel operations, retail earnings, and sales of food and drinks.
Now that we know roughly how much The Venetian Resort makes each day, we should further break down their income and learn the factors that influence their earnings.
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The Venetian Resort Daily Revenue (The Basics)
To approximate how much The Venetian Resort makes daily, we must examine what kind of establishment it is and what factors contribute to its revenue.
Firstly, as of February 2022, VICI Properties Inc saw the completion of the $4 billion acquisition deal to acquire The Venetian Resort.
As one of the most iconic entertainment hubs in Las Vegas, The Venetian has several streams of income.
For example, it has around 258,000 square feet of gaming area and 7,092 suites total, with The Venetian Tower having 3,015 rooms, the adjoining one having 1,013, and The Palazzo Tower having 3,064, all of which bring in revenue.
Other income streams include the revenue from their retail malls and food and drink sales.
How Much Does the Venetian Make a Day?
The Venetian Resort was previously owned by the Las Vegas Sands Corporation, so we will use their public financial reports to look into how much The Venetian makes in a day.
We will be looking at the 2019 figures for a more accurate reading regarding its income before the pandemic.
In the year 2019, total casino revenues came to $444 million.
Similarly, the total room revenue for its suites came to $610 million with a 95.3% occupancy rate.
The total food and beverage revenue in 2019 stood at $347 million. Lastly, the revenue for retail and other income streams was $417 million.
Totaling up all of the numbers for those income streams leads to $1.818 billion.
If you divide $1.818 billion by the number of days in the year (365), you get around $4.9 million.
As such, The Venetian Resort makes approximately $4.9 million daily.
Daily Revenue at The Venetian – Important Considerations
Although we have a basic calculation for The Venetian Resort’s approximate revenue per day, there are still numerous things that we need to consider.
For example, revenue can differ daily, and peak seasons bring in more revenue than non-peak seasons.
The daily revenue for The Venetian hotel suites for certain months is higher depending on the occupancy rate.
Usually, people tend to visit Las Vegas and its hotels between March and May as well as between September and November.
Similarly, revenue from the other facilities will also fluctuate depending on how many people are visiting the resort on any given day.
The Venetian Las Vegas Related FAQs
How much is The Venetian worth?
The Venetian was last sold in 2022 for a total of $6.25 billion dollars. The property was purchased by VICI Properties for $4 billion, while the operations were purchased by Apollo Global Management for $2.25 billion.
Who owns The Venetian now?
Previously owned and operated by the Las Vegas Sands Corp., The Venetian is now owned by VICI Properties. VICI is a real estate investment company that specializes in casinos. While VICI Properties owns The Venetian, they don’t operate it. The Venetian is currently operated by Apollo Global Management.
How many employees does The Venetian have?
The Venetian and Palazzo properties together have over 9,000 employees. Venetian Las Vegas employees are found throughout the properties casinos, hotels, dining, and maintenance operations.
Who owns The Palazzo in Las Vegas?
The Palazzo is owned by VICI Properties, the same company that owns The Venetian next door.
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The Venetian Resort makes just shy of $5 million dollars a day through its operations.
Even without conducting thorough calculations, the high occupancy of their facilities and the $4 billion acquisition deal imply that they earn a great deal of revenue.
If you get the chance, head for a visit to see what the hype is about at The Venetian Las Vegas.
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