Apollo appoints new CEO for Venetian and Palazzo resorts
Apollo Global Management has appointed Patrick Nichols as the new Chief Executive of The Venetian and Palazzo in Las Vegas, less than four months after the private equity firm took over both resorts.
Previously the General Manager of The Cosmopolitan, Nichols left his post after MGM Resorts acquired the company.
Nichols will take over from George Markantonis, who has been CEO of The Venetian for the past seven years. Markantonis will remain in his role during the transition period until Nichols takes over on 1 August. He will then continue on as a special advisor to the Apollo board.
David Sambur, Apollo executive, said of the new appointment: “We are confident Patrick’s significant experience in operating and expanding entertainment, hospitality and group events businesses will continue to build on the solid foundation created under George’s leadership and capably carried on by this team.”
Nichols spearheaded a range of operational and strategic efforts during his time at The Cosmopolitan, where he also held the position of Chief Strategy Officer.
He said: “I have seen first-hand how talented The Venetian team is, and I look forward to working together with our best-in-class management team and our partners at Apollo; to drive the resort’s next phase of growth.”
Apollo, in partnership with real estate investment trust VICI Properties, took over The Venetian in a $6.25bn deal in February 2022.
Previously operated by Las Vegas Sands, The Venetian boasts 7,100 hotel rooms, 225,000 square feet of casino space and 2.3 million square feet of convention space.
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