Las Vegas Sands sells Bethlehem casino for $1.3bn
Worldwide casino resort operator, Las Vegas Sands Corporation, has confirmed the agreement of a $1.3bn deal to sell its Sands Casino Resort Bethlehem casino to Wind Creek Hospitality.
Wind Creek Hospitality is an affiliate arm of the Poarch Band of Creek Indians, which own properties including a casino & greyhound track in Alabama, poker rooms in Florida and a number of other casinos operating in the Caribbean.
The Sands Casino Resort Bethlehem which opened in 2009, is located on the former site of Bethlehem Steel’s former headquarters and includes a shopping mall, performing arts venue and 300-room hotel & casino complex.
Announcing the sale of the property, Las Vegas Sands Chairman and CEO Sheldon Adelson said: “Sands Bethlehem has become one of the leading regional entertainment and gaming destinations in the United States and we are extremely proud of the positive contributions the property has made for Bethlehem, the Lehigh Valley and Eastern Pennsylvania.”
It is the smallest casino property in the company’s portfolio of real estate and last year generated $550m from slot and table games during 2017.
Sands Bethlehem President, Brian Carr added: “We’ve become an important regional entertainment destination because of our commitment to our customers. That’s not going to change regardless of what the sign on the top of the building might read.”
Stephanie Bryan, Tribal Chair and CEO of the Poarch Band of Creek Indians added: “The quality of the property and dedication of the team members to genuinely engage with customers was evident from the first time we visited the property.
“The addition of this fantastic team and property to our portfolio furthers our desire to secure a long and prosperous future for our tribe.”
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