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Sands Bethlehem on the lead in casino gambling revenue | 19 January 2013 : WorldCasinoYellowPages

Sands Bethlehem on the lead in casino gambling revenue

... 19 January 2013

Sands Bethlehem on the lead in casino gambling revenue

The income proceedings worth $3.16 billion from casino gambling in Pennsylvania have enabled it to achieve second position on the graph of state gambling incomes. Nevada is leading in the graph while New Jersey is on third position. The Sands Casino Resort Bethlehem which belongs to Las Vegas Sands took home the largest share of income amid 11 casinos of the state. Sands grabbed second position in slots income worth $291.5 million while Bucks County’s Parx Casino was in a leading position with $384.5 million.

However, Sands Casino achieved first rank with $146.5 million as far as table game income is concerned. Sands surpassed the table game income of Parx casino which earned $109.9 million.  It is not at all surprising that Sands Bethlehem witnessed a 13.4% increase to $122 million in the net income in the latest periodical fiscal report of the company. The gossips about the prospective sale of Sands Bethlehem seem to be quite weird and wonderful with this declaration.

As per reports of the Chris Palmeri of Bloomberg on Thursday, Sands Bethlehem was being silently purchased at a guessed label price of $1 billion. The 12-months year which concludes on 30th Sep. reported an EBITDA of $109 million. The latest casino sales exterior to Nevada has been reported to be approximately 7.5 times that of EBITDA which calculates the price of Sands Bethlehem to be approximately $817 million.

No comment was given by Ron Reese, the representative of LVS upon being inquired to verify the gossips. He just stated that the company feels boosted over the fiscal outcomes accomplished by the casino and the part performed by the company as a society associate in that area.

Many guesses are being made about LVS. Some think that LVS is frightened by the intimidation of additional local contest from the three prospective northern casinos of New York. While some others think that LVS is only reforming its activities because it is getting ready to initiate its large-scale Euro Vegas project in Spain.

May be the freshly recognized come back of VIP gamblers to the coast of Macau implies that LVS can manage to get rid of the minor US casinos in its collection. It is also possible that Sheldon Adelson- the leader of LVS has got sick of the desire of US to go through the records. The reason behind evident conduit of money worth $24 million via the voluntary Adelson Clinic for Drug Abuse Treatment and Research to the Republican-linked political groups in 2012 is being inquired at Truth-Out.org. It is to be noted that this clinic is being operated by Dr. Miriam Adelson, the better-half of Sheldon Adelson.

There are no casinos of LVS in Louisiana. However, the state is not affected by it and performing finely even in its absence. The controllers of Louisiana stated on Thursday that the non-tribal casinos of it bagged $2.4 billion in gaming income in 2012. These figures are on a little increase from $2.37 billion in 2011. The Harrah’s New Orleans of Caesars Entertainment bagged $338.9 million. At the same time, 13 river boat casinos authorized by the state bagged $1.6 billion while four race tracks where slot machines are available poured in additional $405 million.

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