Sands Bethworks is Back on Track
Good news for the Lehigh Valley. In its third quarterly report, released today, Las Vegas Sands Corp. says it's committed to completing the construction of its slots casino in Bethlehem. "We will focus our development activities and available capital principally on the timely completion of both Marina Bay Sands, in Singapore, and Sands Bethlehem, in Bethlehem, Pennsylvania, " William Weidner, president and COO said.
[ LVS 3rd Quarter Report ] [ Sands Bethworks ] [ Check the Stock Price ]
[ LVS 3rd Quarter Report ] [ Sands Bethworks ] [ Check the Stock Price ]
The future of the project was thrown in limbo after Las Vegas Sands announced last week in a filing with the Securities and Exchange Commission that it was having trouble raising the capital to prevent lenders from calling in their loans early. The price of company's stock (LVS) has dropped by more than 90-percent from its peak. Last month, the casino suspended plans to build a hotel and mall adjacent to the Sands Bethworks.
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