The Venetian’s new operator Apollo replaces Vegas property’s CEO with Cosmopolitan GM Patrick Nichols | Yogonet International

The Venetian claimed Thursday that George Markantonis is leaving his role as President and Chief Govt Officer. Patrick Nichols, who began his vocation with The Venetian and is currently the General Supervisor & Chief Approach Officer at The Cosmopolitan of Las Vegas, will replace him in both of those roles, efficient August 1. Markantonis, who had joined the firm in 2015, will continue to provide as CEO until eventually that time, and then he will suppose the purpose of unique advisor to the board.

The firm, which involves The Venetian Resort Las Vegas and The Venetian Expo, is owned by New York-primarily based expenditure agency Apollo World wide Administration. In February, Las Vegas Sands finished the sale of The Venetian Resort assets (The Venetian, Palazzo and Venetian Expo) for around $6.25 billion to their new proprietors —affiliates of Apollo and VICI Attributes.

Beneath Markantonis’ leadership, The Venetian had 5 record-breaking many years. “We heartily thank George for his steadfast company to The Venetian and its Workforce Associates and wish him only the finest in the subsequent phase of his occupation,” explained David Sambur, Apollo Spouse and Co-Head of Private Equity, in a push release Thursday. “As we go on to solidify The Venetian’s situation as a leading location on the Las Vegas strip, we are assured that Patrick’s sizeable expertise in functioning and expanding leisure, hospitality and team functions businesses will continue to construct on the solid basis made under George’s management and capably carried on by this marketplace main staff.”

Markantonis commented: “Our Team Members have recognized The Venetian as a permanent fixture on the Strip and a vacation spot of preference for our guests, and I am unbelievably happy to have led these a gifted group more than the final seven years. This previous May possibly was the most effective month in The Venetian’s heritage, and I glimpse forward to viewing the Resort’s ongoing achievement. Patrick is an remarkable executive, and I am self-confident he is the right individual to have on our lengthy-time period aims and produce an unmatched expertise for our valued clients and workforce.”

Nichols started off his vocation as a Economical Analyst with The Venetian involving 2008 and 2009. He has labored in the Las Vegas hospitality business for his whole career, such as a place at Marina Bay Sands, and most not long ago serving as the Normal Supervisor and Chief Technique Officer at The Cosmopolitan of Las Vegas. As CSO, he led advancement, development, retail and entertainment functions, money setting up and examination, and new small business progress. Prior to serving as CSO, Nichols held a variety of operational and strategic arranging roles of escalating duty.

“I am psyched to return to The Venetian and direct just one of the most iconic Las Vegas resorts for the duration of these types of a pivotal moment for our town,” mentioned Nichols. “Under George’s management, The Venetian has turn out to be just one of the premier resorts across hospitality, meetings and activities, gaming, and enjoyment – not only in Las Vegas, but across the place. I have witnessed firsthand how talented The Venetian group is, and I glimpse forward to functioning alongside one another with our very best-in-class management team and our companions at Apollo to drive the Resort’s subsequent phase of progress.”

“The Venetian’s strategy is resonating with experience-driven clients in a put up-COVID earth, and the Vacation resort has never been more robust with functionality exceeding pre-pandemic stages,” included Apollo Husband or wife, Daniel Cohen. “We proceed to see a quantity of fascinating possibilities in the market, and I am seeking ahead to doing work intently with Patrick and the crew to execute on our shared eyesight.”