Las Vegas Sands saved millions of dollars from the sale of the Pennsylvania Casino. Take your casino free bonus roulette on our casino rooms offers.
Las Vegas Sands completed the sale of the Pennsylvania casino resort in Bethlehem to Wind Creek Hospitality in May 2019. To date, this has proven to be an extremely good solution for the company. A year ago, someone was expecting a coronavirus pandemic, as well as the entire economic downturn. When every casino in the United States is closed, the less casinos you have, the better it is now for the gaming industry.
After selling its casino in Bethlehem, Las Vegas Sands has only casinos in Las Vegas, Singapore and the richest gambling center in Macau in the world.
Wind Creek is one of the most profitable casinos in Pennsylvania. The casino announced that, in addition to buying the resort, it is going through a $ 90 million hotel expansion deal to increase the number of accommodations by 276 rooms. Investment plans also require an additional 42,000 square feet of conventional space.
Pennsylvania is the fourth highest number of COVID-19 cases in the United States with 33,332 positive tests and 1,204 deaths. Due to Governor Tom Wolf’s order to close all gambling halls and public places, state casinos have been closed since mid-March.
As a result of Tuva, gross gaming revenue (GGR) fell 51 percent in March. Casinos earned $ 153.48 million last month, down from $ 316.27 million in March 2019. Some of the losses were offset by online games that continue to run smoothly.
April GGR from land-based casinos will cost $ 0 in April. The order to close the Wolf casinos is valid until at least the end of the month. Even when the community does not start opening some businesses, casinos are not expected to be included in the initial phases of post-pandemic recovery.
In March, Wind Creek Bethlehem was the biggest loser of the year. The casino reported a GGR of just $ 14.66 million, down 71.2 percent from the same month in 2019.
Las Vegas Sands owner Sheldon Adelson said last week that project development in Singapore and Macau is proceeding as planned and is estimated to cost $ 5.5 billion.
He added that he sees many strategic opportunities for the company, precisely because of their financial strength.
“Because of this optimism, we are stopping the dividend so that we have the maximum opportunity to pursue our strategic vision and achieve future returns,” Sheldon Adelson told investors. Take your casino free bonus roulette on our casino rooms offers.