MGM to Purchase Adelson’s Sands Bethlehem

A week ago came the first inklings that the second-largest casino operator might be interested in buying a property from the world’s largest, as MGM Resorts International was showing interest in perhaps purchasing the Sands Casino Resort Bethlehem in Pennsylvania from Las Vegas Sands.

The Morning Call of Allentown was among the outlets reporting a week ago that Pennsylvania gaming officials had confirmed a deal was in the works and that Sands Bethlehem had already notified its employees of the possibility.

Then on Wednesday came a follow-up report that a deal had been reached, with “an agreement in principle” having been made for MGM to purchase Sands Bethlehem for “about $1.3 billion,” reports the Call.

The deal may still take another six months to close, with the sale also ultimately requiring approval from the Pennsylvania Gaming Control Board. According to PGCB spokesman Richard McGarvey, “a sale would trigger a several-month process in which the principals of the new company would be investigatedby the board before they could assume Sands’ gaming license.”

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