The Pennsylvania Gaming Control Board has voted unanimously to allow the transfer of ownership of the Sands Casino Bethlehem to a new owner. The Las Vegas Sands Corporation will no longer be in charge, as the PCI Gaming Authority’s Wind Creek Bethlehem’s acquisition efforts have been approved. Wind Creek is being issued a gaming license in the state and will paying $1.4 billion for the venue as well as $3.75 million for a change of control fee for the transfer.
Plans to Invest:
Wind Creek plans to spend an additional $190 million to invest in the property as part of a redevelopment and rebirth plan. As the new owners, the Poarch Band of Creek Indians are ready to get to work on their largest property to date. The tribe wants to turn the gaming venue into more than a casino in the growing market.
A new hotel tower will be created, boasting 276 guest rooms. An events space is to be added providing 42,000 square feet as well as the redevelopment of the No. 2 Machine Shop. The Shop will become a third hotel space in Pennsylvania, featuring not only 400 guest rooms but also an indoor water park.
The plan to expand the existing casino hotel and meeting space is expected to take around two years to complete. Wind Creek wants to get started as soon as possible once approvals have been given for the changes.
According to Lehighvalleylive.com…
Wind Creek will be investing around $250 million to change the No. 2 Machine Shop into a water and adventure park area. Officials have stated that they need development partners to bring their plans to life. The water/adventure park would be home to a water park, also offering ziplines, ropes courses and rock climbing.
Long Time Coming
The deal between the Las Vegas Sands Corporation and the Poarch Band of Creek Indians has been in the works since March of 2018 when the deal was first announced. It has taken just over a year for the deal to be finalized and approved.
Wind Creek has decided to spend $15 million for rebranding within the first three months of ownership. They plan on having plenty of money ready to market the facility if neighboring states begin a gaming expansion. The tribe explained during the recent Board meeting they are ready for the challenge and are set to continue with charitable contributions to the community, just as the Sands did since opening.