MGM Resorts to buy Bethlehem Resort Casino for $1.3 billion
According to local reports in Pennsylvania MGM Resorts have come to an agreement with Las Vegas Sands to purchase the Bethlehem Resort Casino for $1.3 billion in what is MGM’s continued push on expansion.
Sands Bethlehem owned by Sheldon Adelson and his Las Vegas Sands company had been looking for a buyer for three years as the casino form wanted to concentrate on resort style casinos.
MGM were interested as the company wanted to expand its reach domestically following last years opening of the $1.4 billion MGM National Harbor along with the construction of the Springfield, Massachusetts costing $1 billion.
The Bethlehem Resort Casino won $230 million last year in table games and is the largest casino in Pennsylvania on win ration with Parx Casino second on $160 million win.
It is expected an official announcement will be made sometime in March once all due diligence is complete. It is also believed that Pennsylvania could become the next state to legalise online gambling and MGM have a successful track record in online gambling with their business in New Jersey.