In a surprising development, the Las Vegas Sands Casino, Bethlehem, Pennsylvania has been put up for sale. The brick and mortar casino is the property of land-based gambling mogulSheldon Adelson, who has been the loudest voice against online poker. Sheldon is said to have invested millions from his own pocket to stop online poker from being legalized in the US, especially PokerStars.
However, it looks like it has all come to naught. The said above casino has now come up for sale mainly due to the fact that Pennsylvania is soon expected to be legalizing online poker, which is anticipated to deeply cut into the land-based casino’s profits.
Other reasons for the sale are said to be the opening of two new land based casinos in neighboring New York, with Rivers Schenectady in Schenectady, and Tioga Downs Casino in Nichols, N.Y. Both are in the more popular and extremely busy state.
Furthermore, the 146 security officials at the $800 million Sands, Bethlehem managed to successfully formulate a union, which is a unprecedented for any Sheldon Adelson property and is expected to impact the other 2,400 workers.
In fact, Carl Icahnwas unsuccessful in re-opening the Trump Taj chiefly due to issues from its workers union.
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