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The Las Vegas Sands Corp. is one step closer to cutting their ties with Pennsylvania. The company crossed the final hurdle to complete the sale of their Sands Bethlehem Casino to Alabama-based Wind Creek Hospitality: the casino received approval for a five-year extension of its gaming license.
Sands owner Sheldon Adelson, an outspoken opponent of online gambling, announced his plans to exit the Pennsylvania gambling market at the time the bill passed into law last October. Once Sands pulls out of Pennsylvania, the company’s Nevada properties will be their only remaining assets in the United States.
The timing of the deal should allow Adelson to make his exit from Pennsylvania just before online casino games go live. Though Sands has yet to release details of the sale to the public, it is expected to finalize before the end of the year. The deal is pending regulatory approval, which includes an investigation to ensure the buyer can front the $1.3 billion price tag.
Sands representatives made no mention of the pending sale during a town hall meeting on Wednesday. Sands received its casino license renewal during the session but avoided any reference to the deal or the casino’s buyer, the Poarch Band of Creek Indians. The representatives did take the opportunity to promote renovations at the Bethlehem casino.
Las Vegas Sands is heavily invested in the Macau casino market where it operates five casinos. The company is focused on growing those investments and recently announced plans to spend another $1.1 billion on renovations and rebranding at Sands Cotai Central in Macau.