THE VENETIAN RESORT LAS VEGAS ANNOUNCES CHIEF EXECUTIVE OFFICER TRANSITION
Las Vegas, Nevada (June 9, 2022) – The Venetian® Resort Las Vegas and The Venetian Expo (collectively, “The Venetian”) today announced that George Markantonis is leaving his role as President and Chief Executive Officer and that Patrick Nichols will join as President and Chief Executive Officer, effective August 1, 2022. Markantonis will continue to serve as CEO until that time. Following August 1, Markantonis will assume the role of special advisor to the board.
Markantonis is known throughout the industry for his ability to build high performing leadership teams and for an approachable and welcoming style with all Team Members. Under Markantonis’ leadership, The Venetian Resort had five record breaking years and when the pandemic hit, accompanied by the death of The Venetian’s founder and the sale of the resort, his on-going communication and never-ending optimism helped guide the Team Members and The Venetian Resort through the difficult time period of the worldwide pandemic and change.
“We heartily thank George for his steadfast service to The Venetian and its Team Members and wish him only the best in the next phase of his career,” said David Sambur, Apollo Partner and Co-Head of Private Equity. “As we continue to solidify The Venetian’s position as a premier destination on the Las Vegas strip, we are confident that 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 industry leading team.”
“Our Team Members have established The Venetian as a permanent fixture on the Strip and a destination of choice for our guests, and I am incredibly proud to have led such a talented organization over the last seven years,” said Markantonis. “This past May was the best month in The Venetian’s history, and I look forward to seeing the Resort’s continued success. Patrick is an exceptional executive, and I am confident he is the right person to carry on our long-term objectives and deliver an unmatched experience for our valued customers and employees.”
The Resort is not new to Nichols who began his career with The Venetian. He has worked in the Las Vegas hospitality industry for his entire career, most recently serving as the General Manager and Chief Strategy Officer (“CSO”) at The Cosmopolitan of Las Vegas. As CSO, Nichols led development, construction, retail and entertainment operations, financial planning and analysis, and new business development. Prior to serving as CSO, Nichols held a number of operational and strategic planning roles of increasing responsibility.
“I am excited to return to The Venetian and lead one of the most iconic Las Vegas resorts during such a pivotal moment for our city,” said Nichols. “Under George’s leadership, The Venetian has become one of the premier resorts across hospitality, meetings and events, gaming, and entertainment – not only in Las Vegas, but across the country. I have seen firsthand 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.”
“The Venetian’s strategy is resonating with experience-driven customers in a post-COVID world, and the Resort has never been stronger with performance exceeding pre-pandemic levels,” added Apollo Partner, Daniel Cohen. “We continue to see a number of exciting opportunities in the market, and I am looking forward to working closely with Patrick and the team to execute on our shared vision.”