NYC firm to make an offer to buy Sands Bethlehem
The company is planning to make an offer to buy the Sands Casino Resort Bethlehem, located in Pennsylvania.
US.- Keating & Associates LLC, the firm that made a US$225 million offer to acquire the Revel Hotel & Casino in Atlantic City, is now considering the Pennsylvania casino Sands Casino Resort Bethlehem, which has been close to sale two times.
The firm is in the initial phase of analysing the market and working on the evaluation of the facility in order to deliver a letter of interest. Jeffery Keating, co-chairman of Keating and Associates, said: “As a company, we would be honored to have a jewel of a property like the Sands in Bethlehem within our portfolio, which is why we have initiated our evaluation process.”
The official offer will be tendered once Keating finalises the evaluation phase, local media reported. According to a representative from the company, it is estimated that the offer will be made within the next 30 days. “The Sands is a wonderful property that we believe we can bring to the next level through programming and community activation,” said Keating.
“One of our key directives is to bring world-class entertainment and sporting events like championship boxing to all of our properties particularly ones with such a robust community of fight fans like we find in the Lehigh Valley.”
