A well-recognized face is returning to The Venetian to run the resort and conference middle on the Las Vegas Strip.
An aerial view of The Venetian Resort on the Las Vegas Strip. On Thursday, the on line casino introduced Patrick Nichols would change into its president and CEO, efficient Aug. 1. (Picture: The Venetian)
Late Thursday, The Venetian introduced that George Markantonis would step down as its president and CEO on Aug. 1. At the moment, Patrick Nichols would step into these roles.
Based on his LinkedIn bio, Nichols began his profession with The Venetian 14 years in the past as a monetary analyst. Most lately, served as the final supervisor and chief technique officer for The Cosmopolitan. The Cosmopolitan turned an MGM Resorts Worldwide property final month. That’s when it closed on the $1.6 billion buy of the Strip resort from funding agency Blackstone.
The Las Vegas Overview-Journal reported Nichols’ departure from The Cosmopolitan in late Might.
The administration swap at The Venetian comes 4 months after Apollo International Administration closed on its $2.25 billion acquisition of the property from Las Vegas Sands Corp. (LVS)
About Patrick Nichols
In an announcement, Nichols mentioned he was excited to maneuver a mile north on the Strip and return to The Venetian. He will probably be in command of each The Venetian Resort, which when together with The Palazzo is the second largest lodge on the earth with 7,092 rooms, and The Venetian Expo and Conference Middle, a 2.25 million convention middle.
“Below George’s management, The Venetian has change into one of many premier resorts throughout hospitality, conferences and occasions, gaming, and leisure – not solely in Las Vegas, however throughout the nation,” he mentioned. “I’ve seen firsthand how proficient The Venetian group is, and I stay up for working along with our best-in-class administration group and our companions at Apollo to drive the Resort’s subsequent part of development.”
Nichols is a graduate of Cornell College. After beginning as a monetary analyst for The Venetian in July 2008, he turned the supervisor of economic planning and evaluation for Marina Bay Sands in October 2009. Marina Bay is the LVS-owned built-in resort in Singapore.
A 12 months later, he moved to The Cosmopolitan, beginning as director of strategic planning and transferring up the ranks. He turned a vp on the on line casino resort in Might 2014, the chief technique officer in April 2018. Nichols added the GM function to his title two years in the past.
Markantonis Staying On
As The Venetian’s CEO below LVS possession, Markantonis led the resort for 5 record-breaking years earlier than the COVID-19 pandemic. The restoration has been robust as properly, with Markantonis noting Might was the perfect month in its 23-year historical past.
Apollo Companion and Co-Head of Personal Fairness David Sambur thanked Markantonis for his management over the previous seven years.
As we proceed to solidify The Venetian’s place as a premier vacation spot on the Las Vegas Strip, we’re assured that Patrick’s important expertise in working and increasing leisure, hospitality and group occasions companies will proceed to construct on the strong basis created below George’s management and capably carried on by this trade main group,” Sambur mentioned.
Apollo Companion Daniel Cohen added that the corporate sees “a variety of thrilling alternatives out there.”
Markantonis isn’t leaving instantly. After the switchover happens in August, he’ll change into a particular advisor to The Venetian’s Board of Administrators.
“Our Group Members have established The Venetian as a everlasting fixture on the Strip and a vacation spot of alternative for our company, and I’m extremely proud to have led such a proficient group over the past seven years,” he mentioned.
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