Sands Bethlehem sale to finally go before the Pennsylvania Gaming Control Board next week; the deal is expected to close before the end of May
The Pennsylvania Gaming Control Board is expected to finally rule on the sale of Sands Bethlehem to Alabama’s Poarch Band of Creek Indians more than a year after the transaction was announced, local news outlets report.
The next meeting of Pennsylvania’s gambling regulator is scheduled for 10 am local time on May 15 in Harrisburg. The regulator has not released its agenda for that meeting yet, but Bethlehem Mayor Bob Donchez has told local media that the sale of Sands Bethlehem was on that agenda.
Sands Bethlehem is a casino resort located at the site of the former Bethlehem Steel power plant. Las Vegas casino giant Las Vegas Sands launched the property in 2009.
Rumors about the property’s sale floated around for several years before it was announced last spring that Wind Creek Hospitality would buy it for $1.3 billion. Wind Creek is the gaming and hospitality arm of the Poarch Band of Creek Indians. MGM Resorts International, another gambling giant headquartered in Las Vegas, was among the rumored buyers of one of Pennsylvania’s highest grossing casinos.
Earlier this year, Wind Creek secured an important approval from the Bethlehem Planning Commission to rebrand the casino once the transaction is finalized. However, the company cannot proceed with its plans for the property before the Pennsylvania Gaming Control Board rules on the deal.
Bethlehem’s Mayor said he is optimistic the transaction will close by the end of May, if the state gaming regulator gives it the nod. The host city will see a massive cash flow into its coffers as a result from the casino’s sale.
Expansion and Rebranding
Even though Wind Creek needs regulatory approval to take over the Bethlehem casino, it already has big plans for it. Earlier this year, the company unveiled a $190 million project to revamp, expand, and rebrand the property.
The new owner of Sands Bethlehem plans to add a 300-room hotel at the property as demand for accommodation in the region has been growing in recent years. Wind Creek said it intends to break ground on the hotel immediately after it closes the purchase of the casino resort. The property’s expansion could also include the addition of an indoor water park, but that part of the plan is yet under consideration.
The newly added amenities at Sands Bethlehem will create 400 new jobs to bring the property’s entire workforce to more than 2,500 people, it has also become known.
Sands Bethlehem will be rebranded as Wind Creek Casino and Resort.
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