Las Vegas Sands sells PA casino
The casino company has sold its casino located in Bethlehem, Pennsylvania for US$1.3 billion.
US.- Las Vegas Sands released a statement on Thursday in which it revealed that the company has sold its casino in Bethlehem, Pennsylvania, for US$1.3 billion. The property was acquired by Wind Creek Hospitality, an affiliate of the Poarch Band of Creek Indians of Alabama.
The US$1.3 billion transaction is now subject to regulatory review and other customary closing conditions. Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands, said: “We are pleased to have built a strong foundation that can be the basis for the property’s future success and, more importantly, we are proud to have delivered on our promise of bringing thousands of good paying jobs, generating significant economic impact and revitalizing a site of sentimental and historical importance.”
Stephanie Bryan, Tribal Chair and CEO of the Poarch Band of Creek Indians, added that the quality of the property and dedication of the team members to genuinely engage with customers was evident from the first time they visited the property. “We look forward to working with our new team members and the community to cement Wind Creek Bethlehem’s position as the premier entertainment destination in the northeast,” she said.
Moreover, Executive VP of Las Vegas Sands and CFO, Patrick Dumont, said that the company is likely to use the proceeds from the sale to continue with the company’s long-held strategic direction when it comes to deploying capital.
