Known as the gambling capital of the world, Las Vegas offers supreme entertainment and hospitality options. With a range of hotel casino resorts, visitors from across the globe can find the perfect venue that matches their taste. While millions visit Sin City every month, the lucky are only a few.

Undoubtedly, one visitor of The Venetian Resort in Las Vegas will always remember his stay. This is the case of Kevin Schenk, a guest from Canada who banked a hefty jackpot after playing at the casino resort, local media outlets reported.

On the last day of May, Schenk was playing Face Up Pai Gow at The Venetian. After securing five aces, the lucky man hit a sweet $219,578 jackpot.

To tap into a portion of the progressive jackpot from the game, which was nearly $2 million, the lucky visitor placed a $5 side bet. Being lucky enough to hit the five aces, the man won big.

Visitors to The Venetian can enjoy two casino floors as well as a separate poker room. Recognized for its luxury amenities, The Venetian offers not only gambling entertainment but a wide range of world-class restaurants.

Further amenities available for visitors to the resort include the TAO Nightclub, Voltaire, as well as unforgettable experiences Grand Canal Shoppes.

Similar to other Las Vegas luxury resorts, The Venetian supports a loyalty program called Venetian Rewards. Customers of the luxury resort can earn points while gambling and can unlock exciting experiences, special offers and unique perks and benefits.

Lucky Man Wins $5 Million After Following His Inner Voice

Elsewhere in the United States, a North Carolina man won a $5 million jackpot after following his inner voice. The man from Concord felt the urge to purchase a $30 lottery ticket that ultimately resulted in him winning the mind-blowing jackpot.

The lucky man purchased a ticket for the 200X The Cash lottery game from a business near his workplace. When facing a lottery vending machine, the lucky man felt the urge to pick a particular ticket. Once he scratched off the ticket, he realized that he won the life-changing prize.

Similar to other multi-million-dollar prizes, the man can either receive a lump sum of $3 million or opt for annual payments of $250,000 per year for 20 years.

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VICI Properties Inc., a prominent real estate investment trust (REIT), has unveiled plans to inject up to $700 million into The Venetian Resort Las Vegas for extensive refurbishment projects, marking a significant step in enhancing the renowned integrated resort’s offerings and guest experience.

VICI Properties Teams Up with The Venetian for Major Upgrades

This capital infusion, part of VICI’s Partner Property Growth Fund strategy, aims to fund various initiatives such as renovations to hotel rooms, optimization of the gaming floor, and enhancements to entertainment and convention facilities. The endeavor seeks not only to elevate the property’s overall appeal but also to augment its intrinsic value in the market.

According to John Payne, president and chief operating officer of VICI Properties, the collaboration with The Venetian Resort underscores a commitment to innovation and progress within the hospitality sector. He expressed enthusiasm about supporting impactful expansion endeavors at the Las Vegas landmark, citing the impressive performance achieved since VICI’s acquisition alongside funds managed by Apollo Global Management, Inc. in 2022.

David Kieske, chief financial officer of VICI Properties, emphasized the strategic alignment of the Partner Property Growth Fund strategy with the company’s overarching objectives. He highlighted the dynamic nature of VICI’s real estate assets and the potential for creative capital deployment to optimize operational efficiency and profitability.

VICI Properties’ $700M Capital Injection and Poker Room Expansion

The funding agreement entails an initial investment of $400 million to be disbursed in 2024, with an additional $300 million available for drawdown until November 1, 2026. Rent payments under the existing lease agreement will be subject to incremental increases, beginning on the first day of the quarter following each capital infusion, reflecting a 7.25% yield.

Furthermore, the agreement stipulates that incremental rent hikes will commence annually at a rate of 2.0% from March 1, 2029, with subsequent escalations tied to either a fixed percentage or the Consumer Price Index (CPI), capped at 3.0%.

The Venetian Capital Investment is expected to be financed through a combination of cash reserves and the partial settlement of forward equity sale agreements, underscoring VICI’s prudent approach to capital allocation and investment management.

Additionally, the Venetian Resort Las Vegas is relocating and expanding its poker room to a larger space on Level 2 of the Grand Canal Shoppes, set to open in the summer of 2024. 

In a broader context, this initiative exemplifies a growing trend among REITs, including VICI, to provide financing for tenant-driven enhancement projects in the gaming and hospitality sectors. Such arrangements not only diversify revenue streams for landlords but also contribute to the overall enhancement of property values, thereby benefiting all stakeholders involved.

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Smoking in casinos across the United States has been a controversial topic for decades. On one side, non-smokers’ rights associations have long supported a smoking ban that would protect the health of non-smokers along with non-smoking employees of different casinos. On the other hand, casinos have long feared a smoking ban might result in a decrease in revenues.

Now, a recent report reveals that two casinos in Las Vegas have implemented changes to their smoking policies. Citing a memo released on Wednesday, the Las Vegas Review-Journal revealed that the Palazzo and The Venetian in Sin City implemented changes to their policies, allowing table game players to smoke. While the two venues allowed smoking for table game players, visitors can also request a non-smoking table, allowing them to enjoy a smoke-free experience.

The recently released memo explains that the new policies are effective as of Monday, November 6, 2023. The change effectively enables players of table games to smoke cigarettes, vapes and cigars on the casino floors at the Palazzo and The Venetian. The two venues explained that despite the change, the visibility or use of marijuana or marijuana products remains prohibited.

“Beginning Monday, Nov. 6, the company will reinstate the smoking policy on the casino floor which will permit the smoking of cigarettes, cigars and vapes at all table games on the casino floors at The Venetian and the Palazzo. As a reminder, the use or visibility of marijuana products continues to be strictly prohibited,“

reads a memo released by the Palazzo and The Venetian

Smoke-Free Tables upon Request

The recently implemented changes to the smoking policies at The Venetian and the Palazzo designate smoke-free tables upon request from the visitors. Non-smokers at the two venues can request a non-smoking table, allowing them to enjoy a smoke-free experience. Upon entering the casino floor, non-smokers who want a smoke-free table should submit a request to a table games supervisor or a higher-ranking official at The Venetian and the Palazzo.

“The notion of a partial smoking policy in casinos is a failed attempt to address the serious health concerns of casino workers.“

Cynthia Hallett, president and CEO Americans for Nonsmokers’ Rights

Cynthia Hallett, the president and CEO of Americans for Nonsmokers’ Rights, a nonprofit organization that advocates for smoke bans and the protection of non-smokers, criticized the changes in the policies of the two casinos in Sin City. She explained that those policies are insufficient when it comes to the protection of casino employees, as well as visitors who are non-smokers. Finally, Hallett warned that secondhand smoke poses a risk for both casino employees and non-smokers alike.

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A new Yahoo Sportsbook powered by William Hill at The Venetian in Las Vegas opened its doors to visitors Thursday. The exciting announcement follows a multi-year naming rights partnership for the Yahoo Sportsbook on The Venetian casino floor that is expected to bring unique and engaging experiences for bettors and sports aficionados alike.

The new sportsbook uses more than 12,000 square feet and features a massive 1,770 square foot LED video wall with 46 million pixels. The massive video wall can display up to 40 different sports events at the same time. What’s more, the state-of-the-art Yahoo Sportsbook offers 30 more TVs throughout the venue, allowing sports fans and bettors to enjoy the action without interruptions.

Overall, the venue offers lounge chairs and plush sofas for 105 visitors. An oval bar with 29 seats is located at the center of the venue, offering ten 65-inch 4K LED screens that can be viewed easily. Additionally, a massive 97-foot ticker displays live odds, as well as scores from different sports events for the convenience of the visitors.

Sports fans who are looking for elevated experiences can benefit from the sportsbook’s two Fan Caves. At the Yahoo Fan Caves, visitors can dive into unique gameday viewing experiences thanks to two 98-inch UHD 4K displays that can be controlled. The Fan Caves offer seats for parties of eight or 12 and bring food and beverage options. Elevating the thrill further, visitors can benefit from food and beverages, while sports fans at the Fan Caves have a special menu at the Black Tap Craft Burgers & Beer and Noodle Asia outlet.

The New Sportsbook Is Expected to Deliver Exciting Experiences

Michael Grodsky, the VP and head of west region digital operations for William Hill US, said that the company is excited to power the new sportsbook on the Las Vegas Strip. He added: “Our market-leading tech has provided a best-in-class retail sportsbook experience in Nevada for a long time, and we can’t wait to bring this high-powered partnership to life for more sports fans alongside our new William Hill mobile sports wagering app.”

“We are excited and privileged to launch the Yahoo Sportsbook in partnership with The Venetian Resort Las Vegas.“

Ryan Spoon, president of Yahoo Sports

Ryan Spoon, Yahoo Sports’ president, added that the company is thrilled to see the launch of its sportsbook at The Venetian in Las Vegas. He predicted that the new sportsbook will deliver thrilling experiences for bettors and sports fans. Finally, Spoon spoke about the importance of the new collaboration between Yahoo, The Venetian and William Hill.

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