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$1.3 Billion Pennsylvania Casino Sale To Poarch Creek Indians Approved
May 30, 2019
The $1.3 billion Poarch Creek Indians’ purchase of a Pennsylvania casino has received regulatory approval.
PCI Gaming Authority d/b/a Wind Creek Hospitality (WCH) said Wednesday that the Pennsylvania Gaming Control Board (PGCB) approved a transaction under which WCH will acquire the Sands Casino Resort in Bethlehem, Pennsylvania, for a total enterprise value of $1.3 billion.The closing of the transaction comes after approximately 14 months of regulatory review and other customary closing conditions.
“We are pleased with the decision of PGCB and anticipate moving quickly to close the transaction. I look forward to welcoming all the Sands Bethlehem employees to the Wind Creek family,” said Wind Creek President/CEO Jay Dorris.
The Sands Casino Resort Bethlehem, which will be integrated into the WCH portfolio as Wind Creek Bethlehem, represents Las Vegas-style resort located in the heart of the Lehigh Valley of Pennsylvania, approximately 80 miles from New York City. Amenities include: a 282-room AAA Four Diamond hotel, a 183,000 square foot casino floor featuring 3,000 slots and electronic table games, 200 table games, numerous food and beverage outlets, a 150,000 square foot retail mall, and a multi-purpose event center.
“The purchase of the Sands Casino Resort Bethlehem is a valuable addition to the Tribe’s existing gaming portfolio. This investment will expand and complement our already extensive Wind Creek Hospitality brand’s offerings, and bring added economic growth to the Lehigh Valley.” WCH anticipates an immediate effort to expand the property to include construction of a 300-room hotel adjacent to the casino. WCH also plans to move forward with renovation of the existing No. 2 Machine Shop Bethlehem Steel site with ideas such as an adventure and water park that will include a 400 or so room hotel,” Poarch Band of Creek Indians Tribal Chair and CEO Stephanie Bryan said.
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