Pennsylvania Casino Owned By Anti-Online Poker Billionaire May Be Sold: Report$800 Million Casino Has 'Potential Buyer' |
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As Pennsylvania nears the finish line in its years-long efforts to legalize and regulate online casino gaming, Sheldon Adelson’s casino in the Keystone State now has a “potential buyer.”
According to a report from The Morning Call, employees of Sands Casino Resort Bethlehem were informed Thursday via email that the $800 million casino has a “sole buyer interested in purchasing the property.”
“The sale is not imminent, and there is a lot of work that still needs to be done before a sale is final," Sands Bethlehem president Mark Juliano said.
Adelson, one of the richest men in the world, in 2013 pledged to “spend whatever it takes” in a political campaign to stop internet poker and other web-based casino games. Though Adelson has never achieved the federal ban that he seeks, he apparently has been successful in at least slowing the growing appetite for state-by-state legalization. No new state has passed iGaming legislation since 2013.
However, Pennsylvania, which has 12 casinos in total, is approaching the finish line.
In November, Sands Bethlehem said it was going to spend $90 million to upgrade the property. The plan would give it the largest gaming floor in the state.
The casino already has more than 15 percent of the state’s $3 billion gambling market.
According to The Morning Call, also of note is that just last week the casino’s 146 security guards became the first Las Vegas Sands workers to ratify a union contract. Adelson, a major Republican donor, is anti-union. His company is the largest casino operator in the world.
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