Last fall, Pennsylvania legalized online casino despite strong opposition from billionaire casino boss Sheldon Adelson who owns and operates Las Vegas Sands Corp. The company has been operating a casino-resort, Sands Bethlehem, for years now but the establishment is being sold off before the United States Supreme Court delivers a ruling that will bring legal online gambling in the state.
Sands officially announced on Friday that the company had entered into an agreement to sell the Sands Bethlehem casino-resort for a whopping $1.3 billion to a group known as Wind Creek Hospitality which is an affiliate of the Poarch Band of Creek Indians of Alabama. The $1.3 billion itself is not a bad return for Las Vegas Sands Corp., per se, since the property was built for $743 million before it was launched in 2009. Since then, Sands Bethlehem was among the most successful casino businesses in Pennsylvania’s $3 billion-a-year casino gambling market.
As mentioned earlier, since Sheldon’s the company is not really pro-online gambling, the sale is sort of a reaction to the legalization of online poker to Pennsylvania even though it came months after the state made the ruling. However, Sands Bethlehem is not the only gambling establishment that has felt the pinch – a good number of the other Pennsylvanian casinos have been forced to go back to the drawing board and find out how they can compete in the online space.
“Sands Bethlehem has become one of the leading regional entertainment and gaming destinations in the United States and we are extremely proud of the positive contributions the property has made for Bethlehem and eastern Pennsylvania,” Sheldon Adelson said in a statement about the sale.
Sands Bethlehem has maintained a great track record of success in Pennsylvania especially due to its 36-table poker room that is considered to be among the best places in the state. Fortunately for the casino’s customers, the casino’s management has assured players that the sale will not affect its operations and they can continue enjoying everything that the casino-resort has to offer.
