Sands Casino Resort Bethlehem said today it could resume construction "in the next several weeks" on its partially-completed hotel.
The statement follows a weekend news story, based on an unnamed source, that said Sands was selling the Bethlehem casino because of poor performance.
Company Chief Executive Officer Sheldon Adelson issued the statement this morning in a new release in which he denied reports, published by The Express-Times of Easton, that Sands was selling the local casino.
"We are looking forward to reviewing our table games application with the Gaming Control Board, and at the same time we have undertaken efforts which will result in construction resuming on the hotel portion of the development in the very near future," Adelson said in the statement.
Sands, in Nov. of 2008, halted construction of its hotel, mall and events center, until the economy and credit markets improve. Though hotel construction is due to begin soon, there is still no restart date for the mall and events center.
"I'm encouraged to see the hotel project moving forward," said Bethlehem Mayor John Callahan. "During these tough economic times it's critical to have responsible corporate partners like Sands who are committed to creating over 1,000 good paying jobs for folks here in the Lehigh Valley."
Adelson said the company would assess restarting construction on the remaining aspects of the development, including the retail space and multi-purpose facilities, while it prepares for table games and the restart of construction on the hotel. But Sands officials called the stories suggesting that Sands was trying to sell the casino "unfounded."
Joseph P. Owens, editor of the Express-Times, said he stands by the story. He said the Sands had an opportunity to comment, chose not to and did not debunk the story over the weekend.
Owens said Sands' statement on the hotel runs contrary to the company's position last month, when Owens said a company official suggested work would not resume until after the addition of table games can be evaluated.
"They've done an about-face," Owens said, referring to the Sands' statements about the hotel.
Sands Bethlehem, while consistently being the state's third-busiest casino behind two near Philadelphia, is performing well below what it projected before the recession hit. Adelson said he's convince Sands' fortunes will change with he addition of tables games and a hotel in Bethlehem.
"With the addition of table games, Sands Bethlehem will become the most complete and convenient gaming destination for millions of New York City and northern New Jersey residents and, at the same time, enhance the profitability of the property starting in the foreseeable future," Adelson said in his statement.
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