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$2B Palazzo Opens Soon, Retail in January

LAS VEGAS-The $580-million, 450,000-sf retail piece of the $2.1-billion development is being sold to General Growth Properties.

By Brian K. Miller | Updated on December 02, 2007

LAS VEGAS-Las Vegas Sands Corp in just a few weeks will quietly open the 50-story hotel-casino portion of the Palazzo, its $2.1-billion, 3,066-suite encore to its adjoining Venetian and Sands Expo Center developments. The $580-million, 450,000-sf retail piece of the Palazzo addition will open in mid-January concurrent with a grand opening celebration.

When taken together, the Palazzo, the 4,027-suite Venetian and the contiguous 1.2-million-sf Sands Expo Center represent the largest hotel and convention complex in the world.

The Shoppes at the Palazzo, which opens on Jan. 18, is no longer owned by Las Vegas Sands Corp. General Growth Properties, which acquired the Venetian’s 407,000-sf Grand Canal Shoppes from Las Vegas Sands upon its completion in May 2004 for $776 million, at that time also agreed to acquire the Palazzo retail upon its completion.

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