Las Vegas Sands Calls Report Of Bethlehem Casino Sale "Unfounded"

Las Vegas Sands held an initial public offering in Asia this past year, and the company appears to be financially stable. That is why it came as a shock to some when The Express-Times newspaper in Pennsylvania reported that Sands was looking to sell their casino in Bethlehem.

On Monday, Sands set the record straight. The company claims that not only are they not selling the casino, but they are prepared to continue work on the completion of the project.

"Las Vegas Sands Corp. said today that recent rumors of the company's supposed interest in selling its Sands Casino Resort Bethlehem property, or indefinitely delaying the completion of the hotel and other components of the development, are unfounded," said Sands, in a statement.

The timing of the report on Saturday was peculiar because of recent developments in Pennsylvania. Lawmakers legalized table games in January, and Sands said Monday that they have already applied to add table games to their Bethlehem facility.

Sands also reiterated a point that many industry insiders had been thinking, Pennsylvania may soon overtake New Jersey as the gaming capital of the East Coast with the addition of table games. Already, Pennsylvania casinos have passed Atlantic City casinos with their slot revenue for the month of December.

LVS has been busy with many projects around the world. After their IPO in Asia, the company re-started their Singapore casino project. The Marina Bay Sands casino is expected to open in April.

As for the Bethlehem casino, Sands is adding a mall, a hotel, and Sands Bethlehem will also house the National Museum of Industrial History.

March 1, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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