Las Vegas Sands Figures Plans to Restart Casino Project
Las Vegas Sands (LVS: 26.69 0.00%) is making plans on how to proceed with restarting the suspended construction around its casino in Bethlehem, Pennsylvania. Although the casino itself is expected to be finished in May, the hotel, mall, and events center lie dormant.
Work was stopped in November on everything but the casino due to the constriction of credit markets. Now that the gambling center is almost ready to open, Las Vegas Sands authorities want to restart building the rest of the planned complex.
The mall may be left for last, as Sands executives assert there is more need for hotel rooms and convention space than for retail outlets.
Tony Hanna, the city’s director of economic development, said the upscale brands sought to occupy the retail space aren’t currently looking to expand, due to the recession.
Both the Bethlehem project and a suspended casino underway in Macau are being revved back up as Sands officials say they have acquired new partners who will provide the funding necessary to complete the gaming centers as well as the projects envisioned around the gambling areas.
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