Philadelphia gets casinos
Posted by Carl Barnett on 11 Mar 2010 at 09:03
Table games are now legal in Pennsylvania, which means that certain parties are now able to press on with building facilities for people to gamble.
Sands Casino Resort in Bethlehem has just announced that they would like to restart a project there to build a hotel.
The hotel is expected to have 300 rooms, and will be adjacent to its casino complex, a $743 million casino unit.
Sheldon G Adelson, the Chairman of Sands Corp, said in a statement to Philly.com: ‘We have undertaken efforts which will result in construction resuming on the hotel portion of the development in the very near future.’
The hotel will add a number of attractive features to tourists who visit from outside of Pennsylvania, and will be an added reason to visit the casino.
Analysts in the media anticipate much more casino and hotel building in the future, with Pennsylvania being viewed as a prime spot for casino development in the United States.
Andrew Zarnett of deutsche Bank AG in New York told Philly.com: ‘With the beginning of table games in Pennsylvania, we believe operators will restart plans to build hotels and other amenities, as the potential for string returns among table players will soon exist.’
There has been much growth in the casino industry, both land based casinos and online casinos finding profits rising even as the recession continues.
