Mar 09, 2017 Earlier reports indicated an unnamed casino corporation approached Las Vegas Sands Corp. Looking to purchase the company’s Sands Bethlehem Casino. Now we can now link a name to the potential sale of the Pennsylvania property: MGM Resorts. According to new reports by Matt Assad, two sources have confirmed MGM has reached an agreement to purchase Sands Bethlehem. From top rated restaurants and luxurious suites to exciting entertainment and world-class facilities, it’s all happening at Sands Macao. Wind Creek Bethlehem is home to a 26-table poker room. – Now located next to Molten Lounge. Wide array of action packed games available, including limit and no-limit Texas Hold 'Em; Stud; and Omaha, with limits starting at $3 and $6. The Venetian Poker Room - 3355 Las Vegas Blvd S, Las Vegas, Nevada 89109 - Rated 4.6 based on 365 Reviews 'Great room, it's a little secluded which means. Whether you’re looking for a little excitement or you’re in need of a rainy-day activity, Wind Creek Bethlehem (formerly Sands Casino Resort) is the perfect destination. With a casino, spa, outlet shops, bars, and restaurants spread out across one giant facility, you’ll find plenty to occupy your time. Thursday, March 14th, 2019 Written by Renee. Las Vegas Sands Corp and Wind Creek Hospitality announced in March 2018, a $1.3 billion deal involving the sale of the Sands Bethlehem Casino.But aside from the announcement of the deal, no further details were disclosed by both parties.
Earlier reports indicated an unnamed casino corporation approached Las Vegas Sands Corp. looking to purchase the company’s Sands Bethlehem Casino. Now we can now link a name to the potential sale of the Pennsylvania property: MGM Resorts. Full tilt poker free.
According to new reports by Matt Assad, two sources have confirmed MGM has reached an agreement to purchase Sands Bethlehem. The final sale price of the state’s second largest casino (by revenue) would be in the $1.3 billion range.
The move makes sense for both companies.
Around 27 inmates stole guns from the prison’s armoury and attempted to escape. Nevada state prison casino tokens for sale. They shot lieutenant Frank Denver and several guards, killing two people.
Why Sands might be willing to sell
Both companies, MGM and Sands have casinos located in destination cities around the globe. But MGM is also a regional casino power. The Sands Bethlehem property is an outlier in Sands’ portfolio. It has been rumored to be an asset the company was looking to move for several years.
Security guards unite!
Another reason Sands may be willing to offload the property has to do with unions.
Security guards at Sands Bethlehem did the unthinkable a few weeks ago, when they successfully unionized. They became the first group to do so at a Sands’ casino property. That is impressive when you consider the company’s presence in Las Vegas, where the Service Employees International Union is incredibly strong and politically powerful.
Online gambling a matter of when not if
In addition to being an outlier in Sands’ business portfolio and the recent unionization, changing dynamics in the state may also be contributing to Sands’ willingness to sell its Pennsylvania casino.
Pennsylvania is seen as a strong candidate to pass an online gambling legalization bill this year.
Sands CEO Sheldon Adelson is vehemently opposed to online gambling (perhaps as much as he is to unions). The chances the casino would get involved in online gambling should the state pass a bill are near-zero.
Because of its abstinence from iGaming, Sands’ competitors would have a built in advantage both in terms of revenue as well as marketing, considering online gambling’s reach into new untapped demographics.
Why MGM might be an interested buyer
Blackjack energy services midland tx. As noted above, MGM not only covets huge, destination casinos, they’re also interested in high-end regional casinos. In the past several years, MGM has greatly increased its greatly presence in the Northeast and mid-Atlantic regions.
MGM has:
- Opened the billion-dollar MGM National Harbor just outside of Washington DC;
- Begun construction on the MGM Springfield Casino in Massachusetts, another billion-dollar casino project;
- Bought out Boyd Gaming’s 50 percent ownership in the Borgata in Atlantic City, making MGM the sole owner of the property.
- Tried (and failed) to win one of the casino licenses that was up for grabs in New York.
Taking over the already thriving Sands Bethlehem would seem to fit in nicely with the company’s other initiatives in the region. Those designs seem to center around having the biggest and best or property in the market.
A different view of online gambling
MGM is also ramping up their online presence. The company is prepping to launch an MGM-branded online gambling website in New Jersey. With Pennsylvania the strongest candidate to pass a bill legalizing online gambling, MGM would be able to continue explore its online options. Best free online texas holdem.
Of note, MGM could launch an online poker site in Nevada, and has casino properties in two other states that are believed to be strong candidate states for online gambling: Massachusetts and Michigan.
Poker Room Sands
The Morning Call’s Matt Assad reported that the Las Vegas Sands is considering selling its Pennsylvania casino in Bethlehem.
Sands Casino Poker Calendar
Assad’s reporting goes beyond standard rumors, as the potential sale comes from the email account of Sands Bethlehem President Mark Juliano and Bethlehem Mayor Robert Donchez, who confirmed to the Morning Call that Juliano had shared the news with him.
“We have been told today that Sands Bethlehem has a potential buyer; it is a sole buyer interested in purchasing the property,” Juliano said in an email sent to employees and acquired by the Morning Call. “The sale is not imminent, and there is a lot of work that still needs to be done before a sale is final.”
Sands didn’t reveal who the potential buyer was. I’ve seen everyone from Boyd Gaming to Tropicana AC owner Carl Icahn as possible suitors. But any speculation at this point would be just that.
Not the first time Sands Bethlehem has been on the market
This isn’t the first time the property has been the subject of sale rumors. There have been no shortage of legitimate rumors over the years, most notably talks between Icahn and Las Vegas Sands in 2014.
In the end Sands held onto its Bethlehem casino.
One of these things is not like the other
Sands Bethlehem is one of the largest casinos in the state. It is just a touch behind Philadelphia’s Parx Casino when it comes to gaming revenue. Both of these things make Sands Bethlehem a profitable casino and a desirable property.
But, in the Adelson casino empire, Sands Bethlehem is something of an outlier.
The $800 million property is by no means a “local’s joint.” However, it pales in comparison to the company’s other destination casinos in terms of both size, cost and location.
Las Vegas Sands most notable casinos are all billion-dollar (as much as $8 billion) properties in international destination cities:
Sands Casino Poker Tournaments
- Venetian in Las Vegas ($1.5 billion)
- Palazzo in Las Vegas ($1.6 billion)
- Marina Bay Sands in Singapore ($8 billion)
- Venetian in Macau ($2.4 billion)
- Sands Cotai in Macau ($4 billion)
- Parisian in Macau ($2.5 billion)
Recent developments may have lit a fire
In addition to the casino’s uniqueness amongst Adelson-owned casino properties, a string of events may have renewed Sands interest in offloading the property.
- The opening of Tioga Downs Casino in Nichols, N.Y. (two and a half hours away to the northwest) and Rivers Schenectady in Schenectady, N.Y. (three hours away to the northeast). Both of these new casinos will likely divert some current Sands customers located in southern New York. (And northern Pennsylvania in the case of Tioga Downs.)
- Online gambling is on the verge of passing in Pennsylvania, something Sands Chairman Sheldon Adelson is wholeheartedly opposed to. When online gambling is passed in Pennsylvania, Sands’ abstention would place it a major competition deficit among Pennsylvania casinos.
- Security guards at Sands Bethlehemsuccessfully unionized, a first-of-its-kind occurrence at an Adelson-owned casino property. The unionization by the 146 security guards may have a domino effect on the other 2,400 or so Sands Bethlehem workers.