Morning Call: Sands Bethlehem Sale ‘Imminent’

Written by:
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Published on:
Mar/09/2017

Wall Street is loving the idea that the Sands Bethlehem Casino could soon be sold to MGM.

"We believe a Sands Bethlehem sale, which would likely include MGP, could also be beneficial for all involved," Carlo Santarelli, Deutsche Bank Securities Gaming and Leisure managing director, wrote in a six-page analysis Sunday. "For MGM, the transaction would expand a northeast presence that has grown significantly over the past year, while MGP potentially benefits from a new rent stream. LVS sheds an asset which has already produced a significant [return on invested capital] and strengthens the capital return potential story."

From the Morning Call:

The deal will put arguably the state's most successful casino in the hands of one of the nation's fastest growing casino operators, giving Las Vegas-based MGM another East Coast territory to add to its recent acquisitions in New Jersey, Maryland and Massachusetts.

- Aaron Goldstein, Gambling911.com

 

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