Monday, May 4, 2009

Next Competitor Of Tribe's Pa. Slot Parlor To Open In Three Weeks

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Sands Casino Resort Bethlehem, located about 70 miles from the Mohegan's Pocono Downs slot parlor in Pennsylvania, is scheduled to open to the public on May 22.

The new Bethelehem slot parlor, owned by the Las Vegas Sands Corporation and built on the brownfield site of the former Bethlehem Steel plant, will open its doors with 3,000 slot machines. Sixteen virtual blackjack and three-card poker consoles will also be installed. The company said it plans to add 2,000 more slot machines in the first six months.

The slot parlor will also feature a restaurant operated by celebrity chef Emeril Lagasse, a food court, a 220-seat cafe open around the clock and an Irish pub. The master plan includes a 300-room hotel.

The new Bethlehem slot parlor is expected to further cut into the revenues of the Mohegan's slot parlor, which has about 2,500 slot machines, in Wilkes-Barr, Pa. The Tribe's Pennsylvania slot parlor is currently not profitable when taking into account the interest expense on borrowings to purchase and expand the property.

The Bethlehem slot parlor is scheduled to open to the public on May 22, assuming its two state-mandated preliminary test-opening nights on May 18 and 20 go well.

The Las Vegas Sands Corp. owns the The Palazzo Resort Hotel Casino and The Venetian, both on the Las Vegas strip, a casino in Macau and is currently building a casino in Singapore . The company owned and operated the Sands Hotel, which was demolished and in its place The Venetian casino was built. The majority of the company is owned by Sheldon Adelson, one of the world's richest men.