Pennsylvania approves Sands Bethlehem sale

The gambling regulator in Pennsylvania approved Sands Bethlehem US$1.4 billion sale to the Poarch Band of Creek Indians of Alabama.

US.- The Pennsylvania Gaming Control Board (PGCB) has approved the Sands Bethlehem sale to an Alabama tribe. The Poarch Band of Creek Indians of Alabama, under venture PCI Gaming Authority’s Wind Creek Bethlehem, will take over the venue for US$1.4 billion.

Wind Creek will receive the gaming licence and expects to invest US$190 million right away. The board voted to impose a US$3.75 million change of control fee on the transfer.

“More than 10 years ago, when this very board granted the license to us and said go forward, we built a lot, we have a lot to be proud of,” Sands Bethlehem President and CEO Brian Carr said. “A lot of the promise of what this would mean for the 125 acres that is sitting there is about to be realized if we can get this deal done.”

Wind Creek VP of Business Development Arthur Mothershed added: “We believe we are in the process of acquiring a great casino resort. What we’d like to end up with is a great resort destination.”

Wind Creek will invest to create a new 276-room hotel tower, add 42k square feet of events space. It will also start redeveloping the No. 2 Machine Shop into a third, 400-room hotel and indoor water and adventure park.

“We are committed to seeing the property and its team reach the potential that’s available at that site,” Wind Creek President and CEO Jay Dorris said.

The sale will soon be completed as Wind Creek plans to get a US$1.3 billion loan and US$100 million revolving line of credit by Friday.

The expansion will kick off as soon as it gets the approvals and will take up to two years.