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.
Ever want to buy 19 acres of dirt? It’s by the ocean…
Almost 4 years after buying and imploding Sands casino in Atlantic City, Pinnacle Entertainment gave up on their plans to build a new casino next to Bally’s.
Pinnacle owns 19 acres of oceanfront property between Indiana and Kentucky avenues in the heart of the Boardwalk. Pinnacle executives did not disclose how much the company will ask for the land. The company bought the Sands and its surrounding property for $270 million in 2006, but wrote down the land by $160 million in the fourth quarter of 2009 to reflect falling real estate values.
Pinnacle cited Atlantic City’s prolonged gaming slump, fierce competition from casinos in surrounding states and the fragile economy as reasons for killing a project that looked less and less likely after it was put on “indefinite hold” in late 2008.
“Atlantic City is no longer a good strategic fit for us, given the current economic outlook, the state of the financing markets and the major capital commitment that would be required,” Pinnacle spokeswoman Pauline Yoshihashi said. “It’s an attractive and well-located site, and may be a better strategic fit for another company.”
No surprises here, but it’s disappointing to look back at the potential of new casinos in Atlantic City just a few years ago and now Atlantic City seems as if it’s gambling economy is hanging by a thread. Instead of looking back in sadness let’s watch the implosion of Sands and remember the potential of a few years ago.
Sands Bethlehem laughs at people that don’t like smoke in their faces and expands their smoking areas. The smoking areas expand to 50% of the casino from 25%.
As of Monday, Sands doubled its smoking section from 25 percent to 50 percent of its 3,000 slot machine floor after showing machines in the smoking section are more than twice as busy as in the nonsmoking section.
”We knew this would happen,” said Jeanne Fignar, spokeswoman for the Partnership for a Tobacco Free Northeast Pennsylvania, which lobbied heavily against a smoking exemption in the 2008 state law. ”They can say 50 percent all they want, but there will be no place in the Sands Casino where you don’t smell smoke. Smoke doesn’t stay in its place.”
I understand the business of expanding smoking if there’s demand for it, but this is the opposite of much of the country which is trying lessen smoking. I would probably do the same as a business owner. This is the opposite of Aria protecting it’s dealers Sands looks to protect nobody.
I’m sure this speaks to society in Pennsylvania versus those in Nevada, but I’m not sure what it says. Hey, smoke em if ya got em!
Sands Bethlehem opened with a band last week. There was a lot of press talking about the opening, which turned into a lot of foot traffic over the long Memorial Day weekend. This, in turn, allowed for a big financial opening for the casino.
The Sands brought in more than $18.4 million in wagers on its opening day, far surpassing the $9.8 million opening of the Harrah’s Chester in January 2007.
The Sands also led the state with $5.4 million in revenues for the four-day Memorial Day weekend beginning Friday.
The opening was huge. A great testament to Sands for a great job of marketing and planning. This opened like a blockbuster movie. Will Sands take casino goers away from Atlantic City? Probably some. Will Sands casino take away gamblers from other Pennsylvania? Probably some. People often seem to gravitate to the shiny toy.
Sands Casino Resort in Bethlehem, PA opened this weekend to plenty of excitement. There was so much coverage from east to west that I think it’s best for me to share the reports.
Las Vegas Sun paints a wonderful picture of the casino and opening. Also includes a nice photo gallery showing all phases of the casinos birth.
NJ.com goes into detail on the new casino while discussing how this may hurt Atlantic City. The comments are better than the story.
The Morning Call shows the good, the bad and the ugly of the Sands opening. It’s nice to see a little balance in the reporting of the event. There’s also a video of the opening.
The Strip Podcast has a nice pictorial review of their trip to Sands casino.
Gaming Atlantic looks at Pennsylvania gambling as Sands opens.
Felt Jungle has a very detailed trip report from the opening.
Here’s my quick takeaway. Sands Bethlehem is very nicely designed keeping with the areas tradition of being a steel town, yet having a modern feel. This casino will take some visitors away from Atlantic City, especially initially because of the excitement of a shiny new toy.
While Sands Bethlehem looks beautiful, I don’t see myself making the trip specifically to a casino without a hotel room on site nor any table games. If I end up in the area, I’d certainly take a look. I’m curious if the My Sands card will work with Las Vegas’ Club Grazie. That would be one incentive for me to visit.
I’m a gambler from the east coast, but gamble wherever I may have the chance. East Coast Gambler will chronicle my research on gambling and news about Atlantic City, Las Vegas and Sports. Occassionally there will be a trip elsewhere, but this is where most of my gambling occurs.
