Sands Isn’t Killing Anyone Besides Itself
Rumor has it that Sands is looking to sell it’s brand new Sands Bethlehem Casino. That was quick. The hotel portion of the casino hasn’t been completed and table games in Pennsylvania are right around the corner.
Las Vegas Sands released its 2009 fourth-quarter report last week, which showed Sands Bethlehem with an operating loss of $2.1 million on revenue of $57.5 million.
With its close access to New York and New Jersey customers and its $743 million price tag — the highest for a Pennsylvania casino — Sands Casino Resort Bethlehem had expected to be a major success among Pennsylvania casinos. But things haven’t gone according to plan for the casino. The property’s hotel, mall and conference center had been scheduled to open with the casino May 22, but construction on the three amenities stopped in October 2008 and hasn’t resumed.
I don’t see the casino going away completely, but it’s interesting to think that the corporate folks at Sands couldn’t have projected the market to not being a “mega-market” like Macau. I guess it would be easier for Sands to cut their losses and focus on big money than to see the project through.
For what it’s worth, the Las Vegas Review Journal reports that Sands isn’t looking to sell.
High drama in big business! On a personal level without a hotel a casino will never get my business. I look at gambling as a little time away from the rest of the world and don’t want to drive home the same day I play. Nor to I want to drive to another hotel. I’m usually not in condition to do that anyway. 
Thanks to JMP for the tip.
this story really exploded this week. LVS countered the rumor with promises to restart construction on the hotel. Many think these are empty promises, though, and that the casino will be sold. I also believe this.
ps. congrats on your 2nd straight flush!
JMP, thanks. pics of the straight flush on the way. Not that I’m complaining, but too bad it was on a 25 cent machine.