Clicky

Alabama Indian Tribe Buys Pennsylvania Casino for $1.3B - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
  • 64 views
  • 2 minutes read
sands-casino
Published on
Update on
Author

The Creek Indian tribe-owned and Alabama-based Wind Creek Hospitality is reportedly working out a deal that will see it purchase Pennsylvania’s Sands Bethlehem Casino for a whopping $1.3 billion. Sands Bethlehem which is located in Eastern Pennsylvania is the only casino in the United States outside of the state of Nevada that shares a parent company with Las Vegas Sands. Apparently, the sale according to the Sands Corp., the parent company, will allow it to fully focus on its operations in Macau and Las Vegas.

Initially founded by Sheldon Adelson, a renowned casino mogul and billionaire, the casino took advantage of the desolate area that remained after the former Bethlehem Steel plant closed down. Sheldon Adelson saw to the revival of the area’s former glory with the casino project which came with tons of new job opportunities for the residents.

While Adelson is certainly still proud of what his company has achieved in Pennsylvania his utter distaste for online gambling is no secret. This is quite odd especially considering how many land-based casinos have shifted to the online space in a bid to not only stay competitive but also reach more customer. Adelson himself made his wealth from gambling which makes his stance with regards to online gambling even more surprising. In fact, the billionaire casino mogul even made a move that would introduce a legislation that would give him and other of similar views to craft their own laws for online gambling – it failed.

A Worthwhile Venture?

Well, of course, it is. The Indian tribe will be taking control of a stable and highly profitable casino model that was initially built around the $800 million mark in 2009. The casino has been a top earner since it began operating – it has always recorded progressive annual revenues with last year’s revenues rising by $8 million to a whopping $579 million!

Sands Bethlehem will be the fourth casino that will be under Wind Creek Hospitality sector’s ownership and operation. The operator also happens to own a greyhound facility in Alabama, a greyhound track and a poker room in Florida’s Panhandle, a gaming resort in the Caribbean island Curacao as well as a casino in Nevada.

Latest Headliness

Pennsylvanian Court Ends Halt to Seizure of ‘Skill Games’ by State Police

Last Tuesday, Commonwealth Court Judge Ellen Ceisler delivered a ruling on a request that was filed by Pace-O-Matic. The company, which is known for designing and assembling gaming machines under the Pennsylvania Skill brand, sought to have an injunction against the seizure of their machines extended. There has been a tug of war between Pace-O-Matic […]

Penn National in Advanced Talks to Acquire Barstool Sports

Over the past year or so, there have been several instances where gambling companies have joined forces with sports media companies. The goal of these partnerships has been to ensure that the stakeholders are able to grow their presence in the country’s sports betting market. These partnerships majorly foster the growth and retention of audiences […]

More Highlights of Pa.’s Gambling Industry

It has just been a little over a fortnight since the new year began and already a lot has happened in the Keystone State’s gambling industry. Needless to say, much of this was expected especially considering the meteoric growth of the sector over the past year and the big promises that gaming operators gave to […]

Evolution’s Live Games Coming to Parx Casino in Pa. and NJ

Greenwood Racing Inc.-owned Parx Casino has been very busy extending its portfolio as it kicks off the new year. Recently, it integrated exclusive gaming content from Everi. As it turns out, that was just the beginning. Last week, the gaming operator announced that it has partnered with Live Casino supplier Evolution Gaming. The two intend […]

Parx Casino Integrates Exclusive Gaming Content from Everi

Parx Online, Parx Casino’s online gambling operation has recently added five stepper titles for real money online gambling to its portfolio. The five titles which are meant to further improve the gaming operator’s standing in the Keystone State are from Everi Holdings. If you are not familiar with Everi Holdings it is one of the […]

Similar Stories in Gambling

Evolution’s Live Games Coming to Parx Casino in Pa. and NJ

Greenwood Racing Inc.-owned Parx Casino has been very busy extending its portfolio as it kicks off the new year. Recently, it integrated exclusive gaming content from Everi. As it turns out, that was just the beginning. Last week, the gaming operator announced that it has partnered with Live Casino supplier Evolution Gaming. The two intend […]

West Virginia Speeds Up Online Gaming Plans After Benchmarking in Pa.

It goes without saying that Pennsylvania is currently one of the most lucrative gambling destinations in the United States. In fact, it has grown so immensely that other states have begun to see it as one of the best benchmarks for their gaming industries. The latest state to consult with the Keystone State is West […]

eSports Betting Live in New Jersey, Where Next?

Last month, casinos and racetracks in New Jersey began taking bets on esports tournaments, a move that further expanded the already thriving sports betting industry in the state. Needless to say, esports is a multi-billion industry that has sparked a lot of interest among investors in several different sectors. Esports betting is, therefore, a very […]

Harrah’s Philadelphia Inks New Deal with the Philadelphia Eagles

As sports betting in the United States continues to expand, more sports teams continue to warm up to the activity. A number of lucrative partnerships have been inked in order to capitalize on the rapidly growing industry. Last Monday, Harrah’s Philadelphia Casino and Racetracks announced that it has entered into a partnership with the National […]