Sands Bethlehem halts expansion
The US$90 million expansion project for Sheldon Adelson’s Sands Bethlehem casino resort has been suspended in the midst of sale rumours.
US.- Sands Bethlehem casino resort has ended its plans to add almost 100,000 square feet to its facilities in a US$90 million expansion project. Rumor has it that the decision is related to negotiations between owner Las Vegas Sands and potential buyer MGM Resorts.
“It is my understanding that the expansion is on hold” Bethlehem Mayor Robert Dontex said. “I expected everything would be on hold until there is some clarity. I certainly hope that whether it’s Sands or MGM, the owner goes forward with the expansion”, he added.
Sheldon Adelson’s Las Vegas Sands planned to add 380 slot machines, 81 tables and two new restaurants to the Pennsylvania venue. The resort is the only property that the casino mogul owns in the US outside Nevada and was opened in 2009. It has been a profitable business for Adelson despite the state’s heavy taxes and the expansion was expected to increased income for both the operator and Pennsylvania’s coffers.
Despite its great results during the last fiscal year, the magnate is planning to sell the venue or at least, he’s willing to listen to offers from potential buyers like MGM. Despite none of the parts commenting on the matter, there are rumours that Las Vegas Sands would sell its Bethlehem casino resort to MGM for US$1.3 billion.
