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US – Sale off as Sands signals next Pennsylvanian chapter

By - 6 May 2014

Las Vegas Sands has now taken its Sands Bethlehem casino in Pennsylvania off the market, after several months of rumours that Carl Icahn’s Tropicana Entertainment wanted to buy the venue.

The Pennsylvania property reported GGR of US$117m in the first quarter of 2014.
Sands’ owner Sheldon Adelson said: “We are certainly proud of the financial success Sands Bethlehem has achieved, but we are also very proud of fulfilling the commitments we made to the people of the Lehigh Valley. Bringing pride back to a historic site many thought was lost for good is the real legacy of Sands Bethlehem and that is the foundation on which we will continue to build.”

Sands has appointed a new President to oversee this ‘build’ with Mark Juliano stepping in from Marina Bay Sands in Singapore, where he worked as Senior Vice President and Chief Casino Officer.

Mr. Juliano said: “Sands Bethlehem has become one of the leading entertainment and casino destinations on the East Coast, and I am very excited to be joining the team. The property has had a tremendous run to this point, but I think there is a real sense of optimism that our best days are still ahead.”

Las Vegas Sands President and Chief Operating Officer Michael Leven added: “Many of our people have been with us at Sands Bethlehem since the first day the doors opened and they have had to endure some trying events in recent months, including waves of media speculation about the future of the property. Today, that speculation stops, and a new chapter in the history of Sands Bethlehem begins.”

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