Wind Creek Hospitality has acquired the Sands Bethlehem hotel-casino, in Bethlehem, Pennsylvania, following the closing of a $1.3-billion deal with the Las Vegas Sands Corporation.
LAS VEGAS, May 31, 2019 -- Las Vegas Sands Corp. (NYSE: LVS) announced today that the company has completed the sale of Sands Bethlehem in Pennsylvania. Wind Creek Hospitality, an affiliate of the Poarch Band of Creek Indians of Alabama, purchased the property for a total enterprise value of $1.3 billion.
"We are pleased to have completed the sale of Sands Bethlehem. On behalf of our entire company, I would like to thank every Sands Bethlehem team member – many of whom had been with us since the day the property opened in 2009 – for their dedication and professionalism. We wish them continued success," said Sheldon G. Adelson, the company's chairman and chief executive officer. "The sale represents an important milestone in our company's long-term strategy and allows us to focus on what we do best – large-scale, tourism-enhancing integrated resort development and returning capital to shareholders. Whether it is through the development of The Londoner in Macao, expansion of our footprint at Marina Bay Sands in Singapore or by aggressively pursuing a very promising opportunity in Osaka, Japan, we are focused on delivering projects that bring positive economic benefit to our host communities and provide strong returns for our shareholders."
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