Sands Bethlehem is not a fan of online gambling it seems! As international operators are patiently waiting to place their bids on the 13 online licenses in April. One land-based casino is likely to forfeit its well-deserved right to obtain one. Indeed, Sands Bethlehem is one of the leading brands in the casino scene in PA. And they’re against going online it seems. Of course, you’re already familiar with the name. Since they hold 16.9% of the casino market shares in Pa. They’re almost as famous as Parx casino, who hold 17.6% of the market shares and are already online.
What makes us believe that Sands Bethlehem won’t bid on a license?
Since the application process is only starting in April. At the moment we’re only speculating. But perhaps you’ll agree with our deductions. As you probably know, Sheldon Adelson is the Chairman CEO of Sands Bethlehem. Additionally, the successful businessman is also one of the leading voice opposing online poker and gambling in the states. In fact, Adelson went as far as creating an anti-online gambling lobbying group to band gambling nationally. Given Mr. Adelson dislike of the industry. We think its unlikely the chairman will place a bid of over $50 million to obtain a license.
A missed opportunity?
All and all, we respect Mr. Sheldon Adelson’s position. However, we do think its a missed opportunity that might secure Parx casino an even bigger market lead. Perhaps the Sands simply does not see a need to go online with video slots. Since 40% of their members are table games enthusiasts. Alternatively, the Sands Board may decide to pay the license fee as a block strategy and never go live with it and secure it for a more digital future should the CEO change its mind… As always we’ll follow the story closely and we’ll let you know if Sands Bethlehem enters the PCGB application process in April.