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.”
Adelson’s Sands Bethlehem Fined for Underage Gambling Pennsylvania casino regulators approved fines Wednesday against the operator of Sands Casino Resort Bethlehem for three alleged incidents of visitors under age 21 on the gaming floor.
Sands Bethworks Gaming LLC faces fines totaling $39,000, according to the Pennsylvania Gaming Control […]
MGM Says “No Deal” on Sands Bethlehem The $1.3 billion deal to sell Sands Casino Resort Bethlehem to MGM Resorts International has collapsed, according to multiple sources.
What would have been one of the largest property sales in the history of the Lehigh Valley faltered late last week and MGM ended its pursuit of the […]
Adelson Shuts Out Online Poker News Reports from Venetian Poker Room Online Poker News - Sheldon Adelson’s stance against online poker is no secret by now, and his strong and very rich opinion has some people nervous. Adelson, CEO of Las Vegas Sands, makes it very clear just how far he’s willing to go to “protect” the US from online gambling. He’s […]