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Sands Bethlehem Receives Approval for Table Games, Work Ready to Resume on Hotel Tower
Press Release Source: Las Vegas Sands On Wednesday April 7, 2010, 2:24 pm
BETHLEHEM, PA--(Marketwire - 04/07/10) - After receiving a three-year renewal of its slot operator license and approval of its table games application, Sands Casino Resort Bethlehem, a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE:LVS - News), provided more good news today by announcing that construction on the property's 300-room hotel tower will restart immediately and should be completed by May 2011.
"The company's board of directors has approved the plan for completing the hotel and we fully expect to see construction workers on the site within a matter of weeks," said Michael Leven, president of Las Vegas Sands Corp. "The results at the Sands in recent months are more in line with our expectations of the property and with the addition of table games this summer, and 300 hotel rooms next spring, the property will be well-positioned for greater success moving forward."
On Wednesday, at the completion of a hearing with the Pennsylvania Gaming Control Board, the property was awarded a three-year renewal of its slot operator license and gained approval of its table games operation certificate. With the table games approval now in hand, company officials said they are targeting July as the month the property should be able to offer live table games to its guests.
As for the hotel, Mr. Leven said construction will take approximately 12 months and it should be ready to open by May 2011. He said that as far back as early February the company began working on updated design drawings and as part of that effort, the hotel will now feature 4,000 square feet of meeting space as well as an indoor swimming pool and fitness center.
"As we approach the property's one-year anniversary, it is exciting to think about what the future has in store for Sands Bethlehem. Restarting work on the hotel is a huge momentum builder for the property and adding live table games to an environment which already features great dining and nightlife activities will certainly make the Sands one of the region's top entertainment destinations," said Sands Bethlehem President Robert DeSalvio.
Mr. DeSalvio said Sands Bethlehem will offer a total of 89 tables, including such games as blackjack, craps, roulette, poker, and baccarat. He said dealer training for the table games is already underway and the property will be ready for action, pending a final go-ahead from the Gaming Control Board, when it's time to deal the first card.
Statements in this press release, which are not historical facts, are "forward-looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Las Vegas Sands Corp. assumes no obligation to update such information.
finance.yahoo.com/news/...ives-iw-3005374304.html?x=0&.v=1
Press Release Source: Las Vegas Sands On Wednesday April 7, 2010, 2:24 pm
BETHLEHEM, PA--(Marketwire - 04/07/10) - After receiving a three-year renewal of its slot operator license and approval of its table games application, Sands Casino Resort Bethlehem, a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE:LVS - News), provided more good news today by announcing that construction on the property's 300-room hotel tower will restart immediately and should be completed by May 2011.
"The company's board of directors has approved the plan for completing the hotel and we fully expect to see construction workers on the site within a matter of weeks," said Michael Leven, president of Las Vegas Sands Corp. "The results at the Sands in recent months are more in line with our expectations of the property and with the addition of table games this summer, and 300 hotel rooms next spring, the property will be well-positioned for greater success moving forward."
On Wednesday, at the completion of a hearing with the Pennsylvania Gaming Control Board, the property was awarded a three-year renewal of its slot operator license and gained approval of its table games operation certificate. With the table games approval now in hand, company officials said they are targeting July as the month the property should be able to offer live table games to its guests.
As for the hotel, Mr. Leven said construction will take approximately 12 months and it should be ready to open by May 2011. He said that as far back as early February the company began working on updated design drawings and as part of that effort, the hotel will now feature 4,000 square feet of meeting space as well as an indoor swimming pool and fitness center.
"As we approach the property's one-year anniversary, it is exciting to think about what the future has in store for Sands Bethlehem. Restarting work on the hotel is a huge momentum builder for the property and adding live table games to an environment which already features great dining and nightlife activities will certainly make the Sands one of the region's top entertainment destinations," said Sands Bethlehem President Robert DeSalvio.
Mr. DeSalvio said Sands Bethlehem will offer a total of 89 tables, including such games as blackjack, craps, roulette, poker, and baccarat. He said dealer training for the table games is already underway and the property will be ready for action, pending a final go-ahead from the Gaming Control Board, when it's time to deal the first card.
Statements in this press release, which are not historical facts, are "forward-looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Las Vegas Sands Corp. assumes no obligation to update such information.
finance.yahoo.com/news/...ives-iw-3005374304.html?x=0&.v=1
