Sands estimates $375M annual revenue

State disagrees, pegs annual revenue at $250M.
Thursday, December 07, 2006
By KURT BRESSWEIN
The Express-Times

HARRISBURG | Las Vegas Sands Corp. didn't win over opponents who trekked to the state capital Wednesday for a hearing on why a South Bethlehem casino is a good bet for Pennsylvania.

But the company hoped to win over state casino regulators -- and secure a coveted license for 5,000 slot machines -- with revenue projections more robust than those from the state.

The Sands told the Pennsylvania Gaming Control Board it projects $315 in revenue per machine per day. Board member Mary DiGiacomo Colins said the state's projection for the Sands proposal is $203 per machine.

In all, the Sands projects a Bethlehem casino bringing in annual revenue of nearly $375 million.

Tropicana Pennsylvania LLC, the nearest competitor to the Sands proposal, would bring in revenue of $275 million, Tropicana spokesman Mark Nevins said.

That revenue projection is more in line with state estimates of about $250 million per casino.

Sands attorney Frederick H. Kraus said his company's project would also mean more Lehigh Valley jobs. Sands' permanent employees would total 1,825 with two-thirds in retail compared with 1,300 at the Tropicana, Kraus said.

State law prohibits licensing both the Sands and Tropicana proposals because they are too close to one another.

The number of Sands supporters at Wednesday's hearing overshadowed the opponents, with about 40 audience members wearing "Build BethWorks Now" T-shirts.

"I'd like to see that whole area revitalized," supporter Meg Schantz said. "When I was a child and Bethlehem Steel was going strong, there was an optimism in Bethlehem that you just don't see anymore."

Sands opponent Bruce Haines took an opposite tack.

"I'm against gambling in the middle of a wonderful community like Bethlehem that has a quality-of-life factor that is the best in Pennsylvania," he said.

Anne LaCour Neeb, the executive director of the gaming board, said comments sent in support of the Sands proposal outnumber those in opposition.

By the June 2 deadline for written comments on license applications, 28 letters and 6,170 postcards voiced support for the Sands compared with 246 letters and 592 postcards in opposition.

Reporter Kurt Bresswein can be reached at 610-867-5000 or by e-mail at kbresswein@express-times.com.


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