Sands Casino Resort Bethlehem has stopped the $90 million growth program it was undertaking as talks concerning its sale to MGM Resorts Worldwide for an estimated $1.3 billion move forward.
Bethlehem Mayor Robert Donchez supplied an update on the stalled expansion undertaking last week and remained good that the venture will begin sometime in the long term. In a statement Donchez stated
It is my knowing that the expansion is on hold. We realize. It's company. But I certainly hope that whether or not it truly is Sands or MGM, the proprietor goes forward with the expansion when the sale talks are over. It really is a significant undertaking.
Sands Bethlehem had made a decision on rolling out an growth prepare that proposed growing gaming area, dining operations as well as a separate new poker space. But work stopped following the ground breaking ceremony was held in January as the deal with MGM was announced over the next couple of weeks.
Sands Bethlehem is regarded as to be the leading carrying out casino in Pennsylvania with annual revenues of more than $500 million. The residence has all around two,500 staff and attracts nearly 9 million site visitors a year. Bethlehem CEO Mark Juliano stated in December 2016 that the casino would be rolling out an growth system which would see the gaming floor increased by an additional one hundred,000 square-feet, including 81 tables and 380 slot machines apart from two new eating places.
Sources confirmed that the deal amongst MGM and Las Vegas Sands in March but added that it would take a number of months to near. In accordance to industry analysts the merger may well get time to be wrapped up due to the extensive due diligence process followed by an application approach with the Pennsylvania Gaming Manage Board with is essential for a casino license transfer. http://medieval-chain-mail-armor.com/how-to-get-back-the-best-poker-games/ No this kind of transfer request has been obtained from Sands or MGM so far, in accordance to Gaming Board spokesman Doug Harbach.
Mayor Donchez mentioned he is written a letter to MGM CEO Jim Murren requesting for a meeting if he visits Bethlehem, but absolutely nothing has been confirmed so far. The city of Bethlehem is likely to extremely affected by the deferral of the growth plan as 250 jobs were expected to be developed by the growth system. If MGM Resorts ends up closing the sale and acquiring the Sands Bethlehem casino, there is no ensure that the firm will end up implementing the growth program and proceed with the $90 million investment.
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