Pennsylvania Poker Laws Attract Hotel Industry
Written by Matt W | Wednesday, March 17th, 2010
The recent changes in the laws governing poker and other games in Philadelphia have not only led to direct employment opportunities for thousands of the state’s residents, but they have also started to attract the attention of the hotel industry.
A number of top hotel groups have already expressed interest in expanding hotel amenities next to existing casinos, to take advantage of the new laws that legalized table games in the state.
Last week, the Sands Casino Resort in Bethlehem announced that it would be constructing a 300 room hotel besides its $743 million gambling hall.
According to the Las Vegas Sands Corporation Chairman and CEO, Sheldon Adelson: “We have undertaken efforts which will result in construction resuming on the hotel portion of the development in the very near future.”
“With the addition of table games,” he said in a statement, “Sands Bethlehem will become the most complete and convenient gaming destination for millions of New York City and northern New Jersey residents and, at the same time, enhance the profitability of the property starting in the foreseeable future.”
An analyst in the industry believes that the Sands Casino Resort’s expansion is the beginning of a wave of hotel building across the state in preparation for visitors who seek out new poker options at casinos in Pennsylvania.
“With the beginning of table games in Pennsylvania, we believe operators will restart plans to build hotels and other amenities, as the potential for strong returns among table players will soon exist,” said the analyst.
Another analyst with Barclays Capital added that although the Sands had proposed a hotel long before table games were approved, the group’s desire to go forward with construction now has a lot to do with the passage of tables. “We would expect other operators to move forward with hotel plans, although current capital markets may remain an impediment,” he said.
Check Out Other Related Articles
· Written by Matt W · Filed Under Poker Gossip · Comments Off
